Market Watch: Here are the reasons oil is plunging toward $60
[Slideshow] Oil’s stunning price collapse is undoubtedly one of 2014’s top stories and will remain a major theme for investors in 2015. Here’s a look at the factors that have led to the largest price decline since the 2008 financial crisis.
Indeed, oil futures CLF5, -2.94% have plunged 39% from the beginning of the year, including carnage in Thursday trading that saw oil settle below $60, at $59.95, marking its lowest settlement price since July 14, 2009, while Brent LCOF5, -1.62% is down about 42% for the year (though marginally higher in Thursday trade).
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