Oil Falls More Than 4% As Traders Ditch The China Reopening Play

Oil prices plummeted on Thursday on a series of bearish market forces, led by thin liquidity and easing geopolitical tensions between Russia and the West when it became clear that the missile striking Poland earlier in the week did not come from Russia. WTI prices fell nearly 5% on the day, to $81.76 per barrel at 11:52 am—the lowest level in more than a month. Brent crude prices fell 3% to $90.07—a drop of $2.79 since yesterday. Paper markets are a major market force, which appear to be dumping with low volume and heightened margin…