Downward move in the oil market shows no signs of stopping. Decline in demand caused by the coronavirus outbreak is accompanied by rising supply in Russia and Saudi Arabia creating a very poor mix for the prices. WTI trades over 6% lower today and nears the $25 mark, a level not seen since the turn of 2001 and 2002.
WTI broke below the low from early-2016 today and trades at the lowest level since the turn of 2001 and 2002. Source: xStation5
Daily Summary: End of an Extremely Intense Week (19.06.2026)
Three markets to watch next week: EURUSD, OIL, NASDAQ (19.06.2026)
US Closed: Postponed negotiations weigh on futures
🚩 Gold loses 1.5% as Goldman Sachs cuts its 2026 bullion price target