Crude oil plummets, hitting 5% drop

<p>The price of WTI crude futures continues its decline with a move below the $73 level. It just traded to a low of $72.76 which took the price down close to 5% on the day.</p><p>The demand concerns are the catalyst today with initial jobless claims in continuing claims showing some tilt toward the weaker side.</p><p>The low for the year reached near $63.60. The high price for the year was at $94.99. The midpoint of that comes in at $79.30. For the year, the price is now down -9.55%, down $16.80</p>

This article was written by Greg Michalowski at www.forexlive.com.