Crude oil price plummets

Source: Dukascopy Bank SA
ake  On Tuesday, the price for light crude oil plummeted by more than seven percent, as it traded below the 37.00 US Dollar mark.  

The main reason for the decline was the Saudi Arabian state company Saudi Aramco cutting its prices, which signals that a larger, global decline in oil demand is expected.  

However, crude oil prices have been declining even before the event, as since the start of September a loss of more than 16% has taken place.
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