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ARTICLE · 24 AUGUST 2015

Oil Closes Below $39

Fox Rothschild LLP
Fox Rothschild LLP
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WTI Crude Oil closed at $38.24. The headlines today say it all:

United StatesEnergy and Natural Resources

The Wall Street Journal is reporting that "U.S. oil benchmark settled down $2.21, or 5.5%, at $38.24 a barrel on the New York Mercantile Exchange, the first settlement below $40 a barrel since February 2009."

Yahoo Finance reported today that "U.S. crude averaged more than $90 a barrel from 2011 through 2014.  Its price has fallen for 8 straight weeks, the longest slump in almost 30 years."

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