# 5 reasons oil prices are in a history-setting tailspin

> 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.

- Date: 2018-11-13 · published 2018-11-13T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/6664-5-reasons-oil-prices-are-in-a-history-setting-tailspin
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Expectations of a supply glut point to sustained weakness in crude, which lowers energy costs but signals softer demand momentum across the energy complex.

## Read by commodity

- WTI: bearish ▼

## Sources

- marketwatch.com: https://www.marketwatch.com/story/5-reasons-oil-prices-are-in-history-setting-tailspin-2018-11-13

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