Oil Armageddon: The Price Is Down Nearly 122% This Year
NEW YORK / CITY OF LONDON (SteveRichFX.com) – Crude prices have collapsed as the West Texas Intermediate turned negative for the first time ever. The futures contract for May, lost all of its value and then some to finish at negative $37.63 per barrel. In an unprecedented day of trading, the price broke every low for oil prices since 1946.
Oil Armageddon:The price is down nearly 122% this year.
Dow Jones Industrial Average dropped 592 points.
The S&P 500 and Nasdaq Composite both slid more than 1%.
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