West Texas Intermediate crude drops to below $30
Автор: CGTN Africa
Загружено: 2016-01-14
Просмотров: 849
Описание: Oil prices plunged to below 30 dollars a barrel in early trade-the lowest level in 12 years as oversupply and dollar strength concerns deepen. US WTI crude dropped to 29.93 dollars a barrel. That's the lowest since December 2003. Brent declined as much as 3.8 percent to 30.34 dollars. Oil extended a 70 percent drop since June 2014 as volatility in Chinese markets fueled a rout in global equities and U.S. stockpiles remained more than 120 million barrels above the five-year average. Morgan Stanley says a rapid appreciation of the U.S. dollar may send Brent oil to as low as 20 dollars a barrel. Oil is particularly leveraged to the dollar and may fall between 10 to 25 percent if the currency gains 5 percent.
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