| Crude oil prices are plummeting this week, accelerating a steep downward trajectory that took hold this summer, thanks to an abundance of supplies that’s met by weakening global demand. This supply/demand imbalance has pushed WTI crude and the global benchmark Brent to multiyear lows in a decline that is showing no signs of stopping.
A day after WTI fell an additional 4.5 percent on Tuesday, and Brent nearly as much, both benchmarks fell further this morning. WTI was down an additional 2 percent to just above $80 a barrel, while Brent lost 1.4 percent to fall under $84. Both are down more than 20 percent since their peak this year in June...............................................Full Article: Source
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