Investors Wary Of Possible Sell Off If Oil Prices Dip Much Lower
The price of oil is a topic of discussion everyday in Louisiana. Our economy, our state government, our way of life in many cases is tied directly to how the oil business is performing. Right now the oil business is not nearly as vibrant as it once was.
There is now a concern among investors as the price of oil continues to hover around the $30 per barrel mark of massive sell off that could create even lower prices for oil. As of 3 AM Central time both West Texas Intermediate and Brent Crude had dropped below the $30 per barrel mark.
Many investors have concerns that if the price per barrel closes below the $30 mark that could trigger a major sell off in the investment market. Should that happen some analyst say a quick drop to $20 per barrel or even $15 dollars per barrel would not be out of the question.
There is still time for the market and these commodities to recover some of their value. This is a fluid situation and prices are constantly changing, updating, and fluctuating.