Crude oil prices collapsed nearly -4 per cent today to close below $84 for the first time since October. Or, if you prefer, when Tim Tebow was just taking over at QB for the Denver Broncos.
WTI futures on the CME settled at $83.27, the lowest price since October 4, when prices settled at $79.
Brent futures, meanwhile, closed at $98.14.
Prices were also rocked by yesterday’s bullish EIA storage report showing continued upward revisions.
Exxon, Chevron and ConocoPhillips were each down in mid-afternoon trading.