Oil falls on fears of lasting global glut and rising US-China trade tensions
US West Texas Intermediate crude futures down 5.8% after dropping as low as $18.10 a barrel
04 May 2020 - 08:00
Singapore/Melbourne — Oil prices fell on Monday, paring last week’s gains, on worries a global oil glut may persist amid slumping demand and US-China trade tensions that could restrict an economic recovery even as coronavirus pandemic lockdowns start to ease.
US West Texas Intermediate (WTI) crude futures fell as low as $18.10 a barrel earlier in the session and were down $1.14, or 5.8%, at $18.64 at 7.06am. The benchmark contract rose 17% last week...
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