August Off To A Shaky Start For Oil Markets
By Evan Kelly: Tue, 04 August 2015
August started off on a dour note for crude oil, with prices tanking by around 5 percent on August 3. A slew of negative news from around the world weighed on prices. The Greek stock marketplummeted on the first day of trading after being closed for five weeks. The Athens Index dropped by 16 percent on August 3 and continued its descent as of midday trading on August 4. Concerns over the Chinese economy once again reared their head as the government moved to put restrictions on short selling to stop the collapse of the stock markets. WTI fell below $46 per barrel and Brent briefly dipped below $50 per barrel before rebounding a bit on August 4.
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