Crude Oil prices fall to lowest level in 18 years

Oil prices dropped to their lowest levels in 18 years on Monday as the global economy looked set to enter a coronavirus-induced
recession.
Brent crude, the key international oil price benchmark, plunged 6 per cent on Monday to $26.17 per barrel as countries around the world
shut down swathes of their economies to halt Covid-19’s spread.
At one point on Monday Brent crude touched $22.58 – its lowest level since November 2002. America’s most closely watched benchmark, West Texas Intermediate, fell 5.6 per cent to $20.30.
Demand has fallen by more than half in the past month as billions of people stay at home, companies cut back on production and airlines ground their fleets.
At the same time Saudi Arabia and Russia have entered a price war that has seen oil supplies remain buoyant.

Most Read

Apple's Siri violated the privacy of millions- Whistleblower

Easy Jet Cyber attack: Criminals may keep the data – which includes credit card information – to issue ransoms or use in organised crime

Coronavirus in Africa: Stigma weighs heavily in sub-Saharan Africa

Jos Sex Video : Girl who resembles actor in Jos sex video faces hostility

Covid-19 in Nigeria: Most deaths are from wealthy people who chose home-based care

Covid-19: More than 40 diagnosed with COVID-19 after Frankfurt church service

Covid-19: South Korean schools close after kindergartner tests positive for coronavirus

How Indian firm iSON Xperiences endangers workers lives with crowded workspace amidst pandemic

2020 Met Gala Is Officially Canceled

President Trump says he’s been taking hydroxychloroquine to ward off coronavirus