Crude oil's collapse sends shock waves across global markets

[Yo_Mama_Been_Loggin]

Investors have gone from contemplating the prospect of oil at $100 to sub-$50 in less than two months. No wonder global markets are playing catch-up.

From stocks and bonds to currencies, assets worldwide are gripped by a crude awakening. Monday saw oil’s largest one-day drop in three years, securing its longest losing streak on record.

Early trading jitters on Wednesday suggested the sell-off may not be over, though West Texas Intermediate later climbed after OPEC President Suhail Al Mazrouei said the group and its allies would do what is needed to balance the market.

https://www.msn.com/en-us/money/markets/crude-oils-collapse-sends-shock-waves-across-global-markets/ar-BBPHsju?li=BBnb7Kz

If it means lower gas prices I'm okay with it.

[2naSalit]

1. Same here.

[Celerity]

2. this absolutely crushes Russia

[Scurrilous]

3. K&R

[Quixote1818]

4. Trump did this for the elections

I would think they would be going back up now. One major issue with low oil prices is they hurt states like Texas badly.

https://www.reuters.com/article/us-oil-prices-kemp/why-trump-is-pressing-saudi-arabia-to-lower-oil-prices-kemp-idUSKBN1JV2SN