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Crude oil drops more than 4%

FXStreet (Córdoba) - On a low volume session, crude oil prices are falling sharply. The WTI barrel is losing more than 4%, after accelerating the decline during the US session.

The barrel opened the day trading near the $50 area and recently bottomed at $47.20, the lowest level since Tuesday. It remains near the lows moving considerably away from last week highs.

The most immediate support it the $47.00 zone, that limited the upside during late September; last week the price soared when it managed to climb above.

Equities up

In Wall Street, main indexes are now in positive territory. The Dow Jones is up 0.25% and the Nasdaq 0.15%. As crude oil drops 4.40%, gold is rising almost 1%. No fundamental data of impact was released today. The next relevant report will be Chinese trade data during Tuesday’s Asian session.

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