Crude Falls Below $70 On Slowdown Fears
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Crude oil continues its precipitous decline, with June Light, Sweet Crude futures last trading at $69.77, down
$1.84.
The weakness is being attribute to debt contagion issues in Europe, which could put the breaks on the global recovery and slow economic activity.
Crude traded in the mid-$80s just a few weeks ago.
Of course, lower fuel prices have a bright-side with consumers having more money in their pocket to buy other goods and services.
Related ETFs: Oil Services HOLDRs (NYSE: OIH) -2.5%, United States Oil (NYSE: USO) -3.5%, ProShares Ultra DJ-UBS Crude Oil (NYSE: UCO) -6.8%, ProShares UltraShort DJ-UBS Crude Oil (NYSE: SCO) +6.7%.
$1.84.
The weakness is being attribute to debt contagion issues in Europe, which could put the breaks on the global recovery and slow economic activity.
Crude traded in the mid-$80s just a few weeks ago.
Of course, lower fuel prices have a bright-side with consumers having more money in their pocket to buy other goods and services.
Related ETFs: Oil Services HOLDRs (NYSE: OIH) -2.5%, United States Oil (NYSE: USO) -3.5%, ProShares Ultra DJ-UBS Crude Oil (NYSE: UCO) -6.8%, ProShares UltraShort DJ-UBS Crude Oil (NYSE: SCO) +6.7%.
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