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Crude Oil Extends Plunge Below $40/Barrel As Oversupply Worries Persist

Discussion in 'Technical Analysis' started by Kaitlin, Aug 2, 2016.

  1. Kaitlin

    Kaitlin Forum Member

    Aug 29, 2015
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    Crude oil prices continued to fall precipitously on Monday, with the West Texas Intermediate (WTI) benchmark for US crude dropping below $40 per barrel for the first time in more than three months. Monday’s fall extends the sharp downtrend that has been in place since the $51-area highs of June.[​IMG]

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