Historical plunge in Oil prices

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Historical plunge in Oil prices

The COVID-19 pandemic led oil to a historical day, tanks have run out of space to store crude oil, after a fall in demand. The benchmark price at the

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The COVID-19 pandemic led oil to a historical day, tanks have run out of space to store crude oil, after a fall in demand.

The benchmark price at the other side of the Atlantic, the West Texas Intermediate (WTI), turned negative for the first time in its history after falling a 305%.

This is how the oil market fulfills the International Energy Agency (IEA) forecast, that last week mentioned “This will be the worst year in the history of oil sector”.

 

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