Oil prices fell sharply on Monday afternoon in one of the worst trading days for the commodity since the day in May 2020 when WTI slipped into negative territory. WTI was trading down 5.22% around 2 p.m. on Monday, $3.24 per barrel down for the day at $58.21. The Brent benchmark was trading down 4.81% on the day, or $3.
12 down per barrel at $61.79. The volatile price action was largely the result of oil demand fears. The U.K. announced that it may continue to ban foreign travel beyond the May 17 date if coronavirus infections continue to ramp up…Oil Prices Plummet 5% As COVID Cases Soar
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