Oil price plunges below $30 a barrel
Brent’s premium to WTI is close to its narrowest since 2016, making US crude oil uncompetitive in international markets
16 March 2020 - 13:38
London — US crude fell below $30 on Monday as emergency rate cuts by the US Federal Reserve and its global counterparts failed to tame markets and China's factory output plunged at the sharpest pace in 30 years amid the spread of coronavirus.
Brent crude was down $2.48, or 7.3%, to $31.37 a barrel by 9.06am GMT. The front-month price had risen $1 earlier in the session...
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