Oil Prices Dive On Lockdown Extensions
OIL PRICES TANKED ON FEARS OF EXTENDED CORONAVIRUS LOCKDOWN
(CNN) – Oil prices are tanking on fears of an extended coronavirus lockdown.
As of Monday morning, Brent Crude is hovering at around $26 a barrel.
Lows that haven’t been seen in almost two decades.
Prices are also suffering as demand collapses and the price war between Saudi Arabia and Russia drags on.
Brent Crude futures, the global oil benchmark, were down 8.6%, last trading at $22.79 per barrel.
U.S. oil is trading at $20.27 per barrel, down 5.8%. it fell as low at $19.92 a barrel on Monday morning.