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Dow rises more than 100 points for a second day, hits record high
Author: KathiSpragg8956
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Dow rises more than 100 points for a second day, hits record high
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Crude Slumped to Fresh 2009 Low on Surplus Concerns
Crude oil prices tumbled, as investors reacted to last Friday’s OPEC meeting which brought no plan for production cut in light of the current surplus. Worse still, the cartel has virtually lifted the output quota, allowing members to produce as much as they desire. The front-month WTI crude contract slumped to as low as 37.5 before ending the day at 37.65, down -5.80%, while the Brent contract fell -5.28% for the day.
Originally posted here:
Crude Slumped to Fresh 2009 Low on Surplus Concerns