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12 Dec 2014
Crude oil keeps falling and hits $57.50
FXStreet (Córdoba) - Crude prices continued to slided in the US and dropped to USD 57.50/barrel (WTI) hitting a fresh multi-year low. Afterwards the price rebonded and rose back above $58.00. The barrel was falling almost 3% on Friday and more than 10% over the week.
The barrel continued to search for a support area. Since the week of November 24, price has risen in only two sessions. Not even a dollar correction in the currency market stopped the decline.
In Wall Street the Dow Jones was falling 1.09%, the Nasdaq 0.39% and the S&P 500 0.75%. Gold was algo falling but modestly; the ounce dropped to $1215 but then bounced back toward $1225.
The barrel continued to search for a support area. Since the week of November 24, price has risen in only two sessions. Not even a dollar correction in the currency market stopped the decline.
In Wall Street the Dow Jones was falling 1.09%, the Nasdaq 0.39% and the S&P 500 0.75%. Gold was algo falling but modestly; the ounce dropped to $1215 but then bounced back toward $1225.