Volatility is picking up in oil markets following a powerful rally, prompting investors to retreat into less-risky assets
Volatility is picking up in oil markets following a powerful 2019 rally, prompting a retreat among portfolio managers into less-risky investments in a sector that many investors still view as hot.
U.S. crude tumbled nearly 3% Friday, its largest one-day drop of the year, after earlier in the week hitting its highest level in nearly six months. The slide followed comments from President Trump, who said he encouraged the Organization of the Petroleum Exporting Countries to increase supply and keep prices low.
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