Crude Oil Plunged on Emerging Market Selloff, Disappointing Eco Data

28 January 2014 28 January 2014

nealross1725

Sentiment recovered in Asian session today after the broad-based selloff yesterday triggered by concerns over a currency crisis in emerging markets. Crude oil prices slumped following the emerging market-led selloff on risky assets. Prices were also dampened as US new home sales dropped more than expected. The front-month contract for WTI crude oil lost -0.95% while the Brent crude contract fell -1.10%.