Crude Oil Prices Crater as Saudi Arabia Kicks of a Price War
Oil prices are crashing today. At one point, crude oil prices were down more than 30%. While prices have bounced off those lows, they were down more than 20% at 8:00 a.m. EDT on Monday.
Crude prices tumbled last week following the collapse of a deal between Russia and members of OPEC to reduce their production by an additional 1.5 million barrels per day. Russia, however, resisted the further cuts.
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Source Fool.com
