Downward move in the oil market shows no signs of stopping. Decline in demand caused by the coronavirus outbreak is accompanied by rising supply in Russia and Saudi Arabia creating a very poor mix for the prices. WTI trades over 6% lower today and nears the $25 mark, a level not seen since the turn of 2001 and 2002.
WTI broke below the low from early-2016 today and trades at the lowest level since the turn of 2001 and 2002. Source: xStation5
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