Public investment markets are inherently volatile. Oil prices have been declining since June 7th when West Texas Intermediate was selling at $107 per bbl. Today, the same barrel of oil is selling at $66 per bbl. reflecting an over-supply of oil on the world market (see chart below) which has driven oil prices lower. Last Thursday, OPEC decided not to cut production, confounding expectations of a production cut. Oil prices declined by 10% following the decision.
Public investment markets are inherently volatile. Oil prices have been declining since June 7th when West Texas Intermediate was selling at $107 per bbl. Today, the same barrel of oil is selling at $66 per bbl. reflecting an over-supply of oil on the world market (see chart below) which has driven oil prices lower. Last Thursday, OPEC decided not to cut production, confounding expectations of a production cut. Oil prices declined by 10% following the decision.
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