• News Desk

OIL PRICES FALL AGAIN


It’s a story we are all too familiar with at this point. Crude oil’s rollercoaster throughout the first few months of this year have prepared us for a ride like no other. Despite promising reports the last few months, oil had a bad July. Crude was set to make a jump for $60 a barrel. Instead, it is now looking to maintain $40 a barrel. Oil is down 12% in July, trading at just $42.36 a barrel. However, as disappointing as that is, it is still a huge step up from the dismal prices that oil was at back in January and February. The crux of the problem? Oversupply. The supply glut that the market has been facing for the entire year is only deepening and investors are settling back as they brace themselves for another downward trend. Oil is one of the only stocks performing badly at this time. Stocks, bonds, and Pokemon Go are all exceeding expectations. Oil needs to step up its game.

Read more on the story here

#Oil #OilIndustry #Oilprices #BREAKINGNEWS

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