KABOOM! OIL NOW BELOW US$10 A BARREL – AND MALAYSIA BACK IN THE HANDS OF KLEPTOCRATS, RACISTS & AN INCOMPETENT COUP GOVT

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When the crude oil dropped to below US$30 a barrel, some said it’s impossible for it to reach US$20. But when it finally breached the US$20 level, they said it’s absolutely impossible to go US$10. Guess what, the US$10 a barrel of oil has just been breached. On Sunday, the U.S. benchmark – WTI (West Texas Intermediate) – had fallen to the US$15 price range. In fact, the commodity dropped as much as 21% to US$14.47 per barrel – the lowest in 21 years. The only good news – the international Brent crude oil benchmark was still holding up above US$25 a barrel (trading at US$26.90), but not for long. As of the time of writing, the WTI crude oil continues to be hammered on Monday, trading at a jaw-dropping US$8.90 per barrel – down by 51%. To make matters worse, the May contract of WTI will expire on Tuesday, hence encouraging more extreme selling. The huge price spreads between WTI a…