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Volatility strikes US oil markets on recession concerns
WTI manages to end week just 0.6% down after losing 7% Christmas Eve
The WTI front-month contract fell 26 cents, or less than 1%, last week to settle at $45.33/ bbl on Friday, Dec. 28. Volatility in equities markets took oil with it as the market pondered a possible US recession, lower global economic growth and potential crude oversupply. On Monday, Dec. 24, WTI plummeted $3.06 to $42.53/bbl, an 18-month low and down 44% since October. Christmas Eve was a horrible day throughout US markets with the S&P 500 dropping 2.71% (66 points), the......
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