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Crude Oil Is Crashing Again: Here's Why

TheMotleyFool

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Crude Oil Is Crashing Again: Here's WhyPhoto, wide shot, wide-angle lens, Gas company, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://img.theapi.app/temp/01083d82-021d-4573-8c40-0e836a0771d6.png

The year 2020 has been a brutal year for the oil and gas industry, and the overhang of the coronavirus pandemic continues to weigh on it. Crude oil futures are falling sharply on Sept. 4. As of 1:07 p.m. EDT, Brent futures for November delivery were down 3.6% to $42.49, while West Texas Intermediate -- the key U.S. oil benchmark -- was down 4.2% to $39.64 for October delivery.

Today's sell-off, if it holds, will mark the third straight day of crude prices falling. It will also make this the worst week for oil prices since June.

Image source: Getty Images.

Source Fool.com

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