Near implosion of oil fund is the latest market zaniness leaving traders scratching their heads

live crude oil price in dollar

Long-time professional traders watching the near implosion of the United States Oil Fund could only watch in wonder. “It tells me people always want to make a quick buck,” said John Davi, chief investment officer and founder of Astoria Portfolio Advisors.

Read moreNear implosion of oil fund is the latest market zaniness leaving traders scratching their heads

Crude Oil Prices Dropped, Pandemic Fears to Impact Various Sectors

why crude oil prices are falling today

The price of crude oil had already dropped from $66 a barrel on 31 December to $45 a barrel on 6 March owing to concerns on demand. But with the Organization of the Petroleum Exporting Countries and allies failing to reach a consensus on supply cuts, a price war triggered a further drop to about $34 per barrel.

Read moreCrude Oil Prices Dropped, Pandemic Fears to Impact Various Sectors

Crude Oil Price Down 30% as Russia, Saudi Fail to Reach Deal Over Supply Cuts

live crude oil price in dollar

A standoff between Russia and Saudi Arabia over crude oil supply cuts saw international prices record one of their worst daily dips in about three decades. Though this could help the Indian economy, which is facing a slowdown, to keep the subsidy bill under control, the fall could accentuate global distress.

Read moreCrude Oil Price Down 30% as Russia, Saudi Fail to Reach Deal Over Supply Cuts

Crude Oil Price As The Weakest Link in Coronavirus Panic of China

live crude oil price in dollar

From Thursday chinese exchanges stayed closed due to the Lunar New Year, but other Asian and European markets are showing the full extent of fear of the new disease. Japanese Nikkei225 is declining by more than 1.2% since the start of trading on Monday. Futures on Euro50 lose the same amount at the beginning of trading, returning to drop after the break on Friday.

Read moreCrude Oil Price As The Weakest Link in Coronavirus Panic of China