Selloff in crude oil prices accelerated after breaking below major support levels. Concerns over excessive supply from Libya, Canada and the US have continued to pressure prices. The front-month WTI fell to a 6-month low of 47.35 before settling at 47.66, down 2.42%. Similarly, the Brent crude contract initially slid to as low as 50.14 before ending the day at 50.46, down -2.06%. In the equities market, Wall Street had volatile trading before ending the day modestly higher.
Original post:
Crude Oil Prices Erased All Gains Made after OPEC Deal
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