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Crude oil continues it downward tumble. High to low today, the price fell -6.9%.

Crude oil continues it downward tumble. High to low today, the price fell -6.9%.

The price of WTI crude oil moved down to a new session low of $76.79. The high price was up nearly 6 dollars from the low at $82.70. The fall comes despite more relaxed covid policies in China, and the full European embargo of Russian oil and the price cap at $60 all went into effect today.

Working in favor of the downside is a higher dollar which has a negative impact on the price of commodities including oil. There may have also been a surge in Russian oil into the market ahead of... Read More

Posted: Dec 5 2022, 20:17
Author Name: forexlive
Views: 110278

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