Crude Plunges
Tweet
Share
E-mail
Oil is in free fall Thursday and is closing in on the psychologically important $100 per barrel level, something unthinkable a few short days ago.
Light sweet crude last traded down $7.30 to $101.94. The day's range has been $101.08-$109.38.
The sell-off in crude is being attributed to the "risk off" trade as witnessed by the nearly 30% sell-off in silver over the past week. In addition, initial jobless claims number soared higher last week, which could lead to further demand destruction.
Light sweet crude last traded down $7.30 to $101.94. The day's range has been $101.08-$109.38.
The sell-off in crude is being attributed to the "risk off" trade as witnessed by the nearly 30% sell-off in silver over the past week. In addition, initial jobless claims number soared higher last week, which could lead to further demand destruction.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- OPEC crude output drops to lowest level in 37 years
- Initial Jobless Claims 225K vs 215K Expected
- Natural Gas Inventory 95 bcf vs 99 bcf Expected
Create E-mail Alert Related Categories
CommoditiesRelated Entities
Initial Jobless Claims, Crude OilSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
