WTI oil slumps to lowest since 1986 at USD 10.34 a barrel

By: |
April 20, 2020 9:31 PM

The fall is severe as it concerns the May contract due to expire later Monday and investors don't want to take physical possession of the oil. 

Around 1500 GMT, WTI pulled back to USD 10.82 per barrel but was still down almost 41 per cent compared with Friday.

West Texas Intermediate oil on Monday plunged to the lowest level since 1986 at USD 10.34 per barrel as the coronavirus pandemic slashes demand, leaving the world awash with crude. Around 1500 GMT, WTI pulled back to USD 10.82 per barrel but was still down almost 41 per cent compared with Friday. The fall is severe as it concerns the May contract due to expire later Monday and investors don’t want to take physical possession of the oil, traders said.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Govt mulls extending soft loans to grain-based distilleries for raising ethanol production capacity
2Onion prices drop by up to Rs 10/kg in consuming markets on govt action against hoarding
3Onions to cost Rs 35 per kg in bazaars of Hyderabad