Bear run sends oil down for 10th straight session
Bear run sends oil down for 10th straight session
A bear stampede has taken hold of oil markets as the coronavirus continues to spread fear, uncertainty and doubt.
Oil futures slid for a 10th straight session Monday as casualties hit 426 and the number of infections surpassed 20,000.
And now big money managers have joined the stampede as new data reveals the virus is creating severe demand shocks that could further depress prices. Reuters has reported that fund managers and hedge funds were heavy sellers of crude oil and various refined products last week as the worsening outbreak heightened fears of a demand meltdown in China, the world’s leading importer of crude.
Brent crude prices have dropped 21 percent over the past 30 days, less than two mont...




