Another slippery slide for crude oil sent the S&P 500 and Dow Jones Industrial Average into the red on Wednesday, June 21. Crude oil prices retreated further into a bear market, after having fallen more than 20% from a late February high. Crude plunged more than 2% on Tuesday, June 20, on worries over global oversupply and ballooning production. Prices fell more than 2% on Wednesday, settling at their lowest level since August.
On Thursday, West Texas Intermediate for August delivery rose 0.5% to $42.73 a barrel.
This article was written by a staff member of TheStreet.