WTI Crude Oil Reaches New Lows

Crude oil prices tumbled on Wednesday, losing over 18% intraday.

The declines came after the previously held lows at 28.00 gave way. This led to a sharp and consistent fall in the commodity.

At the time of writing, oil prices are trading at $21.75. Further declines cannot be ruled out.

For the moment, price action is likely to continue attracting sellers into the market.