OIL IS PLUNGING
Oil is still falling.
In afternoon trade on Friday, West Texas Intermediate crude prices were below $67 to as low at $66.66.
Brent crude prices, which are the global benchmark, also cracked $70 a barrel.
WTI prices are now down more than 9%, or more than $7 a barrel, in just the last 24 hours, and Brent prices are also off more than 9%.
The drop in crude prices is a continuation of the collapse that started on Thursday after the latest OPEC meeting saw the oil cartel maintain its current rate of production. Many in the market expected OPEC to announce production cuts to combat the recent decline in oil prices, which some had blamed on too much global supply.
Here is the insane chart.
FinViz
More to come ...
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Having an regional accent can be bad for your interviews, especially an Indian one: study
- Dirty laundry? Major clothing companies like Zara and H&M under scrutiny for allegedly fuelling deforestation in Brazil
- 5 Best places to visit near Darjeeling
- Climate change could become main driver of biodiversity decline by mid-century: Study
- RBI initiates transition plan: Small finance banks to ascend to universal banking status