Reuters reported that crude oil futures slumped on Wednesday, diving more than $2 per barrel as rumors about a hedge fund being forced to sell out positions across commodities spread.
As quoted in the market news:
Brent April crude fell $1.92 to settle at $115.60 a barrel, having dropped as low as $115.05 after reaching $117.66.
Expiring U.S. March crude fell 2.28 percent, sliding $2.20, to settle at $94.46 a barrel, having swung from $93.92 to $97.07. U.S. April crude fell $1.88 to settle at $95.22 a barrel, having slumped as low as $94.21.