Oil has collapsed with a historic price fall
Five hours before a collapse with WTI Crude Oil May futures I wrote an article in which I have warned about a strange development with Oil prices. In that moment, the WTI Crude Oil (May contract) were at aprox $16.00 and 5 hours latter the price fell for 330% to minus $37.00. A historical moment that’s for sure, as the WTI Crude futures trades from 1983 and has never been even bellow $10.00 per barrel. A total collapse!
It’s not only how the ETF market suffered the huge loss, but the CFD’s which I’ve mentioned in my article has a free fall as well after that scenario, which continued with sharply fall even more today. The low price today for now $11.90 per barrel. In the time of my writting yesterday the price were at $22.28. It’s a drama still and the pressure on price is very strong.
I wrote how we should keep away from the Oil market for a while and that was great decision. Today I see how much troubles in between traders and funds such a move has made. It’s not only the historical price, but there will be a historical losses as well, unfortunetely. On the other hand, moves and prices like this made a huge opportunities for us and we should consider to return slowly after the strom has passed. Is it?