Risk appetite slips as crude tumbles: An ugly session for WTI and Brent crude oil futures overnight with both registering declines in excess of 5%

David Scutt

Stonex

Risk appetite slips as crude tumbles: An ugly session for WTI and Brent crude oil futures overnight with both registering declines in excess of 5%. Front-month WTI futures fell to as low as $49.77 with Brent faring even worse, declining over 6% to a low of $52.66. Both are now trading at the lowest level seen since mid-2009 with losses since mid-June last year sitting at 54%. In line with the move in crude the S&P 500 energy sector slid by 4%, something to keep in mind given the energy sector led index gains in Australia yesterday. (VIEW LINK)


David Scutt
David Scutt
Market Analyst
Stonex

David is a Director of Scutt Partners Pty Ltd and has successfully worked in the financial services markets over the past 12 years with both large and smaller banking groups. He has provided strategic financial analysis for currency and interest...

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.

Comments

Sign In or Join Free to comment
Elf Footer