Feb 09

Oil Settles Below $28 a Barrel

The Wall Street Journal
Oil sold off dramatically all of Tuesday afternoon as warnings of oversupply and tumbling stock markets around the world highlight the worst-case possibilities for a struggling market.
“You’re seeing a lot of fear,” said James Koutoulas, chief executive at Typhon Capital Management, which manages about $100 million in assets. “Oil will end up going lower before a sustained recovery.”