Fears of a second wave of coronavirus hits oil
The output cut by Opec+ is still no match for the continued supply glut and plunge in demand
11 May 2020 - 15:29
London — Oil prices fell on Monday as a new wave of coronavirus infections in some countries and concern over a persistent glut cancelled out support from supply cuts by the world’s biggest producers.
Brent crude was down 74c, or 2.4%, at $30.23 a barrel by 10.12am GMT, while US West Texas Intermediate crude fell 55c, or 2.2%, to $24.19...
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