Oil Plunges On A Wave Of Bearish News ...Middle East

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Oil Plunges On A Wave Of Bearish News
source : OILPRICE ( Middle East ) () 14
Oil prices plummeted by 4 percent on Thursday morning, as a rising U.S. dollar, rising U.S. crude inventories, and fresh setbacks in vaccination programs in Europe weighed on the market. As of 11:45 a.m. EDT, WTI Crude prices were dropping by 4.20 percent at $61.89, and Brent Crude was plunging by 3.91 percent at $65.34. Oil prices were down for a fifth consecutive trading day, as the recent rally began to unwind with a continued increase in U.S. commercial inventories, a stronger U.S. dollar, and renewed concerns about demand this quarter and…

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