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U.S. crude fell from near four-year highs reached six weeks earlier to its lowest level since early December, and both WTI and Brent entered bear market territory, down more than 20% from 52-week highs. Crude had posted a record losing streak and settled at $55.69 on the latest session.
Traders shifted from fearing an oil shortage to expecting supply to exceed demand into 2019, which points to continued downward pressure on crude prices and related energy costs for feed producers.
cnbc.comTom DiChristopherNov 13, 2018Not enough comparable past events yet for a historical read.
Not 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.
Documents the same-day selloff into bear market territory after a record losing streak, indicating momentum-driven liquidation and oversupply concerns.
Documents the move into a bear market and record losing streak, reflecting the broad momentum selling that drove the 5-day decline.
