Value of oil markets falls by 20% in year of lockdowns
Crude dips on last trading day after prices rebound on stimulus by governments
31 December 2020 - 11:55
Singapore — Global crude oil markets have lost about a fifth of their value in 2020 as strict coronavirus lockdowns paralysed much of the global economy, but prices have rebounded strongly from their lows as governments rolled out stimulus.
On Thursday, the last trading day of 2020, Brent was down 8c, or 0.2%, at $51.55 a barrel, at 7.56am GMT. US West Texas Intermediate (WTI) lost 13c, or 0.3%, to $48.27 a barrel...
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