(Bloomberg) — As computer screens flash red for energy markets from Houston to Singapore, oil traders are urgently asking themselves one question: is a historic crash about to repeat itself?The meltdown caused by the Chinese coronavirus outbreak is increasingly reminiscent of a plunge that happened just over a year ago. In October 2018, a sell-off across commodity markets left Wall Street banks racing to cover insurance policies, such as options contracts, that they had written to oil producers, sparking a new wave of selling that ultimately caused prices to tumble by more than 40% over two months to $49.93 a …read more
Source:: Yahoo Finance
