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Oil shares hammered as FTSE enters a bear market on Panic Monday

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Oil firms the biggest losers in the stock market slump

FTSE 100 suffers its fifth biggest one-day fall on record. Oil prices crashed more than 30% to just $31 per barrel overnight. FTSE 250-listed Premier Oil and Tullow fell by 57% and 31% respectively. Investors told not to panic and to think long-term to avoid locking in losses.

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Coronavirus: Biggest drop in oil price since 1991 in new market panicBrent crude tumbles below $30 a barrel at one stage while investors take a wider flight from risk amid the COVID-19 crisis. Was the oil price not already massively down before this Oil price collapse is due to the OPEC dispute over the weekend.... NOTHING TO DO WITH CORONAVIRUS! scaremongering !!!
Source: SkyNews - 🏆 35. / 67 Read more »