Crude Oil Drops Below $50 Per Barrel
PUBLISHED ON: Jul 20, 2015
Crude Oil Prices Fall Under $50Crude oil prices managed to plummet even further today, breaking through what had been a rock-solid $50 support level. There are at least three reasons for this movement, which has been anything but sudden.
The first is the coming deal with Iran, which promises to flood the marketplace with cheap Iranian oil.
In fact, the domestic oil reserve has actually been increased by 4% but it still isn't enough to stave off falling prices. The US energy sector is currently a dangerous place to put your money, although there are deals to be had. It's just too soon to say when the demand for crude oil will increase, or when OPEC and the US will cut production, so until the the best use for the energy sector is a fertile dumping ground for short sales.
Facebook (FB) Still on the Rise After Marketing TrialSocial media and advertising giant Facebook was up 3% today on the success of a new marketing scheme. The company plans to make it even easier to micro-target groups of people with advertising than it already is.
Currently, most of Facebook's targeted advertising is location-based, but it's trying out a new scheme where you can advertise based on gender and income level, among other factors. The new features are expected to go live by the end of the year. In trading today, Facebook added 2.94 points to close at $97.91 per share.