FYI: With a record losing streak and the pace of declines picking up steam to the downside, the recent decline in crude oil prices is increasingly starting to resemble the bust we saw three years ago. With today’s decline, crude oil prices have now given up over 25% since the early October peak and are within $2 of a 52-week low. Furthermore, because the 52-week low was all the way back in last November, by the time we get to the end of the week, today’s prices will become the new 52-week low. That is unless we keep falling. Whatever happens from here, by this time next week the 52-week low in crude oil prices will shift from November 2017 to November 2018.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/oil-declining-at-fastest-rate-since-2015-2016-crash/
