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Brent, WTI futures CRASH 20% over Saudi Arabia-Russia oil price war fears & coronavirus concerns
8 Mar, 2020 22:32 / Updated 52 minutes ago
Oil prices plunged more than 20% in chaotic market opening, with main crude benchmarks, Brent and WTI, trading below $35 a barrel amid fears of an all-out price war following the collapse of the OPEC output cut deal.
Asian markets opened with a massive gap on Monday, with Brent within seconds falling nearly 30 per cent to $32.05 per barrel, while WTI fell some 27 per cent to around $30 – the lowest since 2016 – before bouncing back slightly, to $35.3 and $32 respectively.
8 Mar, 2020 22:32 / Updated 52 minutes ago
Oil prices plunged more than 20% in chaotic market opening, with main crude benchmarks, Brent and WTI, trading below $35 a barrel amid fears of an all-out price war following the collapse of the OPEC output cut deal.
Asian markets opened with a massive gap on Monday, with Brent within seconds falling nearly 30 per cent to $32.05 per barrel, while WTI fell some 27 per cent to around $30 – the lowest since 2016 – before bouncing back slightly, to $35.3 and $32 respectively.
