U.S. oil tumbles more than 8%, dips below $100 per barrel - BitcoinEthereumNews.com
เศรษฐกิจน้ำมันสหรัฐร่วงมากกว่า 8% ลดลงต่ำกว่า 100 ดอลลาร์ต่อบาร์เรล03 / 14 / 2022ข่าว Bitcoin Ethereum Permian Basin rigs in 2020, when U.S. crude oil production dropped by 3 million a day as Wall Street pressure forced cuts. U.S. oil tumbled more than 8% on Monday, breaking below $100 per barrel, amid talks between Russia and Ukraine as well as new lockdowns in China — which could dent demand. West Texas Intermediate crude futures, the U.S. oil benchmark, lost 8.75% to trade at $99.76 per barrel. International benchmark Brent crude shed 8% to trade at $103.68 per barrel. Rebecca Babin, senior energy trader at CIBC Private Wealth U.S., attributed the declines to a mix of geopolitical and demand factors. Russia and Ukraine were slated to resume peace talks on Monday, while Chinas March demand is set to be revised lower due to new Covid lockdowns. Additionally, open interest in Brent futures has dropped, which means financial players are reducing risk. “Today‘s action reflects a shift in sentiment in Russia/Ukraine causing sentiment traders to sell, fundamental concerns around demand coming from China’s Covid lockdowns causing fundamental traders to take profits, and technical pressure as crude breaks significant physiological prices,” said Babin. Monday‘s sell-off builds on last week’s decline, which saw WTI and