This article appeared online at TheNewAmerican.com on Thursday, March 9, 2017:
Wednesday’s crude oil price drop caught hedge fund managers, big money investors, day traders, and OPEC by surprise, with the sell-off, the biggest one-day drop in 13 months, continuing into Thursday. The five-percent drop on Wednesday pushed crude oil down to $50 a barrel, with Thursday witnessing a further drop to $49. Early Tuesday morning crude was selling at $54 a barrel.
The sell-off started with the announcement on Tuesday by the American Petroleum Institute (API) that