Wednesday saw a fall for US crude oil prices by 4%. That sharp drop was the most drastic one in since the month of April, and it was triggered by the rise in US oil stockpiles. That rise was the first one in over two months. The change brought a shock to investors and crude traders who had not seen much change to trading prices over the last few months, despite falls in European oil. The fall was consistent with the rising demand for US oil that comes with summer and typically lasts throughout August.
Industry experts explain that this is likely not the tipping point but that the next declines will be more gradual than this one. The price for crude oil in the United States slumped to 4.2% or $2.51 per barrel. That is the biggest fall that has happened since April 8 for US crude. For Petroileo Brasileiro Petrobras SA (ADR) (NYSE:PBR), it traded at a lower volume than usual, slumping in price -4.36% at its recent close. It declined -40.63% over the past 52 weeks; its high during that period was $20.94. This stock trades at -6.69% today below its SMA 50 and is -5.82% under its SMA 200.
Meanwhile, Bill Barrett Corporation (NYSE:BBG) traded during its last session at volumes higher than usual, although its stock price was down (price loss of -10.24%). The high over the last 52 weeks was $27.39, although the share price for the past three months has been down -8.54%. It recently closed at -16.18% under its average for the past 52 weeks and even more substantially under its 200-day average (-33.83% under). Also down is Vantage Drilling Company (NYSEMKT:VTG). Its recent close was at $0.176, which is down -6.93% from its previous close (the equivalent of -0.013 points). Shares reached $0.12 each over the last 12 months. Expectations are that earnings will decline -450.00% over the next 12 months.