Crude oil is dropping sharply

Crude oil is dropping sharply

Oct 10 2014

Crude oil futures fell sharply   to its lowest level in several years amid fears that slowing global growth will reduce demand for oil ,and  the investors appetite turn to  safe-haven assets  amid the decline of the U.S stocks which is witnessing heavy sell-off.

Accordingly the crude oil prices dropped   to its lowest level in two years. and the weekly report showed the  rising  of Crude Oil Inventories, which will increase the pressure on OPEC to save the  prices  to tackle the slowing  global oil demand.

U.S crude oil is trading around $85.52  per  barrel, while Brent crude is currently trading at $89.61  per  barrel.

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