General News | Oil & Gas Prices
Oil Prices Hit 18 Month Low Amidst Oversupply, Market Uncertainty
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Commodity prices fell again on Thursday to ~$45.44 (WTI) after seeing a slight resurgence earlier in the week.
This is the lowest price we have seen in ~18 months.
Oil prices reached a notable high in October 2018, when WTI hit ~$75 per barrel. In the months that followed, oil prices declined nearly 40% on average.
Market uncertainty and oversupply are the key factors driving the volatile pricing conditions.
See Also: What to Expect From Operators if Oil Price (WTI) Stays at $50?
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