President Trump has taken to his twitter account as usual to give reason as to why the oil price went down drastically.
“Saudi Arabia and Russia are arguing over the price and flow of oil,” Trump wrote.
“That, and the Fake News, is the reason for the market drop!”
Oil prices fell as much as 30 percent, however Brent later trimmed losses slightly to be down 20 percent at $36 a barrel, while West Texas Intermediate traded at about $33.00 a barrel.
Below is a screenshot of the US President tweet: