Brent gets hammered too.
The price of crude oil got hammered in trading today.The price fell -$3.64 or -7.3% to $46.43. Lowest close since August 2017.
Brent crude also tumbled, falling by -$3.35 or -5.62% at $56.26.
In post settle trading, crude continues to fall. It is down over $400 or -8.02% at $45.95.The rejection of the budget has stocks on edge and that in turn has traders to continue to worry about a slowdown.
The markets are anxious and any little negative news is met with selling stocks and that is rolling over into the oil complex as well.