Crude oil prices slumped to new lows as Goldman Sachs downgraded its forecasts and as Gulf countries refused to trim production despite price slide. The front-month contract for WTI crude oil dropped to a new 2009 low of US$45.62/bbl before ending the day at US$46.07, down -4.34%. The Brent crude contract also extended weakness to as low as US$47.16 before settling at US$47.43, down -5.44%.
See more here:
Crude Oil Slumped to New 2009 Lows on Goldman Downgrades. Gulf Refused to Cut Output
Leave a Reply
You must be logged in to post a comment.