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Crude Oil Bounces to $93.84 After 5% Plunge to $91 Low

Crude oil futures traded down 2.9% at $93.84 midday on May 26, recovering from an earlier near-5% plunge that took prices into the low $91 area. The sharp selloff triggered a bearish investingLive structure score of -5.5, activating downside targets at $90.90, $90.25 and $89.41 after a sustained break below $91.32. Lighter holiday volumes amplified the move, weighing on energy sentiment while AutoZone shares tumbled 11% on weak Q3 results; equity benchmarks finished mixed with the S&P 500 up 0.71%.

Category

UK Brent Oil

Sentiment

Bearish

Event

Price movement

Reading time

1 min