# MARKET WATCH: NYMEX crude oil prices drop to lowest since June 2017 | Oil & Gas Journal

> February NYMEX crude fell more than $3 on December 24 to settle at $42.53 a barrel, its lowest close since June 2017. Analysts blamed volatile U.S. stock markets and ample production, with prices down about 40 percent from early October highs.

- Date: 2018-12-26 · published 2018-12-26T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/61728-market-watch-nymex-crude-oil-prices-drop-to-lowest-since-june-2017-oil-and-gas
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Sharply weaker crude lowers energy costs and biofuel margins, which can weigh on vegetable oil and feed-related values. The selloff is driven by equity weakness and oversupply rather than a supply shortfall.

## Read by commodity

- WTI: bearish ▼

## Sources

- ogj.com: https://www.ogj.com/general-interest/economics-markets/article/17296739/market-watch-nymex-crude-oil-prices-drop-to-lowest-since-june-2017

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.