The first trading week of 2016 was marked by a grand collapse on global financial markets. Petroleum prices that continued going down, the information that the Democratic People’s Republic of Korea has successfully tested a hydrogen bomb and the panic on China’s stock market became the main factors that contributed to a confident victory of “bears”.
Petroleum price fall did not stop in the new year. Growing tension between Saudi Arabia and Iran did not hamper prices from falling. Traders are more inclined to pay attention to weak macroeconomic indicators and high petroleum stocks in the US.
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