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U.S. Oil Futures Settle at Lowest Since Early 2002, Down Nearly 20% For The Week


Saturday, 18 April 2020 02:11 WIB

Minyak WTIOil,Crude Oil


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U.S. benchmark oil futures dropped Friday to mark another finish at their lowest in more than 18 years, tallying a loss of 20% for the week. Worries about rising U.S. supplies, a potential record drop in demand and tight storage capacity fed oil's decline.

May West Texas Intermediate oil fell $1.60, or nearly 8.1%, to settle at $18.27 a barrel on the New York Mercantile Exchange. That was the lowest finish for a front-month contract since January 2002, according to Dow Jones Market Data. Prices lost 19.7% from the settlement on April 9. Trading was closed last Friday for the Good Friday holiday.

Source : Marketwatch


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