Oil Prices Collapse To An 8-Month Low

tim tebow on the ground

Photo: AP

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.  

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