New York covid-19 death economy New York

Oil drops to 21-year low with storage filling as demand shrivels

Reading now: 463
www.livemint.com

Oil extended its slide, falling to the lowest in more than two decades, on concern the world is rapidly running out of places to store crude after output cuts proved insufficient to cope with plunging demand.

Oil extended its slide, falling to the lowest in more than two decades, on concern the world is rapidly running out of places to store crude after output cuts proved insufficient to cope with plunging demand.

Futures in New York fell more than 8% in early Asian trading to less than $17 a barrel after losing almost a fifth of their value last week as the deal by OPEC+ and other producers failed to counter the loss of demand from a crippled global economy.

Read more on livemint.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA