Oil loses ground amid glut as talks are delayed
Meeting set for Monday postponed to April 9 after producers blame each other for collapse of dialogue
06 April 2020 - 07:51
Singapore/New York — Oil prices slipped more than $1 a barrel on Monday after the world’s top producers delayed a meeting to discuss output cuts that could partly alleviate oversupply in global markets as the coronavirus pandemic pummels demand.
Brent crude slipped close to $30 a barrel in early trade and was at $32.82 by 4.03am, down $1.29, or 3.8%. West Texas Intermediate (WTI) crude fell $1.66, or 5.9%, to $26.68 a barrel, after earlier touching a low of $25.28...
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