Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Oil in New York Enters Bear Market, Dropping 20% From Feb. 24

May 31 (Bloomberg) -- Oil futures in New York entered a bear market, dropping 20 percent from this year’s highest settlement of $109.77 a barrel on Feb. 24.

Oil for July delivery was at $87.59 a barrel, down 23 cents, in electronic trading on the New York Mercantile Exchange at 9:34 a.m. in Singapore. The futures closed yesterday 20 percent below their peak this year, the common definition of a bear market.

To contact the reporter on this story: Yee Kai Pin in Singapore at kyee13@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.