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WTI crude broke through its 200-day moving average and several technical support levels, including a Fibonacci retracement and the year's low. Traders and funds liquidated positions as the break accelerated the decline toward $45.
Technical selling amplifies moves in crude without new fundamental cause, adding volatility to energy costs that feed into commodity logistics and biofuel margins.
bloomberg.comAlex LongleyMay 5, 2017Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
