1.

The reason for the sharp drop in crude oil is probably due to the COVID-19 epidemic. The global crude oil supply is sufficient, but the demand is greatly reduced. The oversupply of crude oil will lead to a sharp drop in prices;

2.

It may also be affected by changes in the exchange rate of the US dollar. When the value of the dollar rises, the prices of some commodities such as crude oil may fall;

3.

A temporary decline in global economic development may also affect the decline in crude oil prices;

4.

The emergence of unexpected events, political factors and so on will also cause the price of crude oil to fall.