Global oil prices fell by 5-8 percent on Wednesday, with benchmark WTI crude futures dropping below $25 per barrel for the first time since November 2002 amid demand concerns due to the COVID-19 pandemic
MOSCOW (Pakistan Point News / Sputnik - 18th March, 2020) Global oil prices fell by 5-8 percent on Wednesday, with benchmark WTI crude futures dropping below $25 per barrel for the first time since November 2002 amid demand concerns due to the COVID-19 pandemic.
As of 12:11 GMT, the price of May futures for Brent crude dropped by 4.84 percent to $27.34 per barrel, while May futures for WTI crude were trading down 8.45 percent at $25.02 per barrel, recovering from more than a 17-year low of $24.90 per barrel reached several minutes earlier.
