They have dropped over 41% in less than 6 months.
(MarketWatch) — Oil’s stunning price collapse is undoubtedly one of 2014’s top stories and will remain a major theme for investors in 2015.
Indeed, oil futures have plunged 39% from the beginning of the year, including carnage in Thursday trading that saw oil settle below $60, at $59.95, marking its lowest settlement price since July 14, 2009, while Brent is down about 42% for the year
They have dropped over 41% in less than 6 months.
I watch a lot of CNBC, FoxBiz, and Bloomberg during the day in my shop. I don’t think I’ve seen ANYBODY earlier this year even hinting at the oil price collapse.
As a matter of fact, after the first month of decline I saw quite a few pundits predicting a December rebound.
It seems to be “unexpected” for everybody.