After reaching a high of more than $86 a barrel in early October, which prompted warnings that it would climb further to $100, the oil price has since plunged by more than 30%. Why? Russia, Saudi Arabia, and U.S. oil are producing at record levels China�s demand for oil byproduct, gasoline, dropped to a the lowest level in 13 months, according to a Reuters report on Friday A rising dollar also helped to create a headwind for the commodity because the dollar-priced asset becomes less attractive to buyers using other currencies when the buck strengthens. https://www.marketwatch.com/story/6-key-reasons-the-bottom-is-falling-out-of-oil-prices-on-black-friday-2018-11-23 https://www.theguardian.com/business/2018/nov/23/oil-price-falls-brent-crude-cost-barrel-oversupply-concerns
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