- Infowars - http://www.infowars.com -
Oil Slides in Broad Commodity Sell-off
Posted By Adan On February 21, 2013 @ 11:35 am In Global Crisis,Old Infowars Posts Style | Comments Disabled
February 20, 2013
Crude oil futures fell sharply on Wednesday, joining in a sell off hitting precious metals and copper, as selling accelerated amid market talk that a hedge fund was forced to liquidate substantial positions in commodities.
Oil entered into a steep decline just before 11 a.m. EST, diving more than $2 per barrel over 20 minutes with several volumes spikes. Several traders cited rumors that a hedge fund had been forced to sell out of positions across several commodities.
Exiting of long positions built up during the recent rally and the triggering of sell-stop orders accelerated the slide as the U.S. March crude contract approached expiration at the end of the day’s session, brokers and traders said.
Article printed from Infowars: http://www.infowars.com
URL to article: http://www.infowars.com/oil-slides-in-broad-commodity-sell-off/
Copyright © 2013 Infowars. All rights reserved.