OIL PLUNGE

This is now becoming the story in financial markets.

Oil is tanking again.

Here’s a multi-day chart, via FinViz, showing the violent declines in oil in each of the last three days.

There are lots of theories for why oil is behaving so ugly.

One of them is the possibility that the global economy is slowing down, with weakness seen in both China and Europe (exacerbated by the situation in Russia).

There’s also evidence that supply is bigger in OPEC than previously thought.

And then there’s also the general risk-off sentiment we’ve seen across markets lately, with people selling off stocks and buying the dollar (and in fact equities around the world are lower again today).

Other commodities are generally in the red as well.

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