Thursday, November 27, 2014
Oil [WTO] is crashing!
Crude oil just broke $70 for the first time since June 2010.
West Texas Intermediate crude futures are below $70 after Thursday's OPEC meeting resulted in the oil cartel announcing that it will not cut production.
On Thursday, WTI futures were down as low as $68.90, a more than 6% decline in the last 24 hours following the news.
Crude Oil (WTI)
Jan 15 Contract
Update: 29 November 2014:
West Texas Intermediate tumbled 10 percent [yesterday] to $66.15 for the biggest drop in more than five years.