Oil Prices 2016 Dropping Again? Traders Sell Shares To Profit From Historic Highs
October 21, 2016
Oil prices were dropping as traders sold shares of the commodity in droves early Thursday, ahead of an expected price gouge by the Organization of Petroleum Exporting Countries (OPEC).
Brent crude fell from $52.14 to $51.87 just before 8 a.m. EDT, while U.S. West Texas Intermediate (WTI) simultaneously dropped from $51.11 to $50.85.