Oil Celebrates One-Week Anniversary Of Worst Plunge In 3 Years By Plunging Second-Most In 3 Years

Oil Celebrates One-Week Anniversary Of Worst Plunge In 3 Years By Plunging Second-Most In 3 Years

Last week was supposed to be "capitulation" for crude, but it looks like there was still some capitulating to be done, because on Tuesday, WTI fell to its lowest since October 2017. This is truly remarkable. On the one-week anniversary of the largest one-day decline for WTI since September 2015, U.S. crude dumped another 6%+, meaning we've just witnessed the two worst days for oil in three years in the space of just five trading days. (Bloomberg) Clearly, global growth concerns are at play
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