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OIL PRICES TUMBLE ON DEMAND COLLAPSE, BRENT AT 1999 LOWS

TOKYO (Reuters) – Oil prices slumped again on Wednesday, with Brent falling to the lowest since 1999, as the market struggled with a massive crude glut amid a collapse in demand for everything from gasoline to jet fuel caused by the coronavirus outbreak. Brent crude LCOc1, which fell 24% in the previous session, touched $15.98 […]

oil rig
Coronavirus: Oil prices rise on hopes of a price war truce

Global oil prices have risen after Donald Trump said he expected Saudi Arabia and Russia to reach a deal soon to end their price war. The cost of crude had fallen to 18-year lows as the two countries slashed prices and ramped up production. At the same time demand has been hit hard by shutdowns […]