Oil's tumble continues to be more than a one-day wonder as WTI crude dives another 3% to...


Oil's tumble continues to be more than a one-day wonder as WTI crude dives another 3% to $92.90/barrel, the lowest price in more than a month, and nearly $8 less than the price it hit following the QE∞ announcement. Monday's excuse for selling was a rumored SPR release; today's is chatter from Saudi Arabia. USO -3.4%.

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Comments (3)
  • captiankirkoptions
    , contributor
    Comments (241) | Send Message
     
    Very Bearish inventory numbers.
    19 Sep 2012, 10:39 AM Reply Like
  • Whitehawk
    , contributor
    Comments (3121) | Send Message
     
    But little relative sell off in the oil equity E&Ps, showing that they are driven by crude price ranges that are not too high or too low.
    19 Sep 2012, 04:57 PM Reply Like
  • positivethoughts
    , contributor
    Comments (2064) | Send Message
     
    They are selling to get out of oil and into something else.
    19 Sep 2012, 06:52 PM Reply Like
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