Oil Touches 3 Month Low

By Unknown

Senin, 30 Mei 2016

Oil Touches 3 Month Low

The crude oil was not invited to the big party on Wall Street this month.

There are no long, oil prices seemed ready to fly above the threshold of $ 60. All of a sudden now, the next stop is more like $ 40 a barrel.

Crude crumbled to three-month low of $ 42.36 a barrel on Tuesday. This leaves the oil down 12% in July alone, making it a big outlier in a month that was great for other assets such as stocks, bonds, emerging markets and, of course, nothing to do Go with Pokemon.

So why is the oil in a hood? Oil traders, as they are called to do, got a little too excited about the long-awaited rebalancing of the market

The world seems to have more oil than necessary -. and the glut of epic offer has even spread in gasoline. Gasoline inventories are sitting at the highest level ever for this time of the year, despite the fact that it is the heart of the summer driving season.

"Once again, the markets are ahead of themselves," said Matt Smith, research director of commodities ClipperData.

via CNN

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