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https://www.marketwatch.com/story/oil-prices-try-to-steady-after-12th-straight-drop-2018-11-14
Is the sudden drop in crude oil prices just another fluctuation in the market or something long-term?
“The dramatic selling across the oil markets in recent days has come to a brief pause” Wednesday, “but many remain stunned by the acceleration in aggressive momentum that has transpired over the past couple of sessions,” said Jameel Ahmad, global head of currency strategy & market research at FXTM.
“We have not seen such a disastrous day for the oil markets in terms of negative momentum like the one on Tuesday in around three years,” he said. However, “I think what we need to accept moving forward is that traders are waking up to the significant threat that slowing global growth in 2019 will weaken demand for commodities like oil.”
Is the sudden drop in crude oil prices just another fluctuation in the market or something long-term?