Oil Rebounds After Biggest Daily Loss In 3 Years

Posted by Irina Slav

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Crude oil prices crashed yesterday, losing 7 percent in just one day, which was the biggest daily loss in three years and today continued down in early trading as headwinds overwhelmed any bullish factors.

After a rather rocky start to Wednesday trading, oil prices managed to tick upward, with WTI trading at 2.32% by 10:14am EST. Brent had rallied 2.63% to trade at $67.19 at the time of writing, despite pressure by a vicious combination of demand outlook, oversupply concerns and a couple of other factors such as President Trump’s call on OPEC to keep production at current levels…. CLICK for complete article