Home Current News Oil plunges 25% as another virus-fueled trading week begins

Oil plunges 25% as another virus-fueled trading week begins

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Oil plunges 25% as another virus-fueled trading week beginsOil prices are plunging amid concern a dispute among producers could lead a global economy weakened by COVID-19 to be awash in an oversupply of crude. Brent crude, the international standard, lost $11.44, or 25.3%, to $33.83 per barrel in electronic trading in London. Prices are falling as Saudi Arabia, Russia and other oil-producing countries argue how much to cut production in order to prop up prices.

Source: yahoo.com/news