The dramatic crash in oil prices has returned with a vengeance.
U.S. crude futures dropped as much as 5% on Thursday, driving prices below $27 for the second time in recent weeks. It settled at $26.21, the lowest point since 2003. The steady decline is creating a widespread headache for financial markets. It's causing energy companies' profits to plunge, raising worries about the prospect of bankruptcies in the oil sector and spooking investors about global growth. In total, crude oil has plunged an incredible 75% from its June 2014 peak of almost $108.
Related: Stocks sink following oil crash
U.S. stock markets followed by declining sharply. The Dow fell as much as 400-plus points and the Nasdaq moved closer to a bear market, or 20% below its most recent high point.
World markets also suffered. In Asia the Hang Seng (HSI) dropped nearly 4% Thursday, while the Nikkei (N225) shed 2.3%. Major indexes in Europe were 1.5% to 3% lower after Sweden's central bank pushed its key interest rate further into negative territory at -0.5%.
Related: Fallout: Oil bankruptcies spike 379% The International Energy Agency said earlier this week that it expects the global oil glut to grow throughout the year.
"With the market already awash in oil, it is very hard to see how oil prices can rise significantly in the short term," the IEA said in its monthly report.
Related: Don't expect oil prices to rise soon, IEA warns
Freed from sanctions, Iran ramped up its production to nearly 3 million barrels a day in January -- an 80,000 increase from December. Iraqi output reached a record high of 4.35 million barrels a day in January, and shipments from Saudi Arabia have also increased.
Do you actually read what you write before submitting your posts, as your post are not only contradictive but they are full of denial, unsubstantial accusations and you come across as what you profess others to being which is a keyboard warrior. Firstly you had been posting about manipulation of this particular stock for some time then when I pointed that out you and the fact it does nothing but make the potential investors wary about this stock you try to somehow make it look like it’s my fault. Secondly you had made accusations about myself and posted them on another rrl forum, iii website, and then asked me to prove it was me you had been referring too when it had been blatantly obvious, this is unacceptable. You obviously have issues with those who point out that it is indeed you who had banged on and on about how these small cynical trades are manipulating the SP so that a cheap entry price is achieved for which described in your post on iii and had does as much on LSE rrl bb. It is a thin veil you wear to mask your intentions to try and make it look like it is I who should be held into account on this forum and on iii. I wish not to take part in your kangaroo court which at best is hosted by the most prolific argumentative poster that had. Other posters such as myself had applied common sense and relayed perfectly good explanations for the SP movement which are totally dismissed by you as you will not allow yourself to be swayed from your manipulation theory which is maddening to say the least. This constant defiant stance will not do anything to improve the attraction of buying shares in RRL rather it can only contribute to a bad sentiment, but you know best.
when you say " you couldn't write this stuff", but you do and you do it regular and furthermore you do it on different websites.
God not looked into here for some time but never expected to see things this bad. Been in and out of range for some years now. Never lost here and gained some although should of sold when the 24p high can but didn't. Did I say 24p lol god them were the days... I am still in here although not by much @0.8 but even that is far and away now.. Some long termers who have 10p+ averages who are still here I feel for you!
Blink and you miss the blue bits! I see these blue flashes before my very eyes and take a Parecetamol, then it goes away :) After 7 years, one gets used to it, blame Landau, he is the cause of many issues with RRL, essentially, greed, now he may pay the price.
My little one studies about colours at his school these days. I think just to give a better idea about the colour red I should point out RRL. It has been red ever since I've seen this company. No idiot in the management seems to be bothered
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