WTI OIL LOST 76 DOLLARS AND THE OIL AND GAS STOCK COLLAPSED

ON 4 AUGUST, THE OIL AND GAS STOCK COLLAPSED, WITH BRITISH OIL FALLING BY MORE THAN 4 PER CENT AND EXXONMOBIL, BRAZILIAN OIL, ENNI OIL, CHEVRON AND SHELL FALLING BY MORE THAN 2 PER CENT. ON THE FACE OF THE NEWS, UNITED STATES TREASURY SECRETARY BESENT STATED THAT THE UNITED STATES MIGHT REACH AN AGREEMENT WITH IRAN TOMORROW TO OPEN THE STRAIT OF HORMUZ. INTERNATIONAL OIL PRICES FELL IN RESPONSE, AND WTI CRUDE OIL FELL BY OVER 5 PER CENT AND LOST $76 PER BARREL。