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YGRN - A Disaster For Oil As OPEC Fails To Address Falling Prices
Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E YGRN
At the end of last week, the price of nearby NYMEX crude oil futures fell below the December 2018 low. After trading to a high of $65.65 on January 8, when tensions between the US and Iran reached a boiling point, the price fell to a low of $41.77 on March 6, as the energy commodity took an elevator to the downside and slipped by 36.4%. The most recent low took out the December 2018 low of $42.36 per barrel.
Nearby Brent futures also declined sharply, falling from a peak of $71.99 per barrel on