Oil Tumbles Under $$43 As Key Support Breached; Fresh 6 Year Lows

by Tyler Durden
ZeroHedge.com
03/16/2015

Moments ago, soothing words by Saudi Arabians notwithstanding, both Brent and WTI, had another step move lower, with West-Texas Intermediate sliding under $43, a fresh 6 year low, and well below the January lows of $44.37! What may be causing it: well, aside for “more sellers than buyers”, and a rumor that Genscape reporting another major inventory build at Cushing, a breach of a key support line may be the reason. BofA explains.

The Rest…HERE

This entry was posted on Monday, March 16th, 2015 at 11:24 am and is filed under Economics, Oil. You can follow any responses to this entry through the RSS 2.0 feed.