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U.S. crude settled at $55.69 after a 7.1% drop, marking a 12th straight daily decline, a record for the contract. Expectations of a global oil supply glut drove the benchmark to its lowest close of the year and deepened its slide into a bear market.
Expectations of a supply glut point to sustained weakness in crude, which lowers energy costs but signals softer demand momentum across the energy complex.
marketwatch.comMyra P. SaefongNov 13, 2018Not 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.
