WTI crude falls below US$25 per barrel for first time since November 2002

As of 12.11 GMT, the price of May futures for Brent crude dropped by 4.84 per cent to US$27.34 per barrel. — Reuters pic
As of 12.11 GMT, the price of May futures for Brent crude dropped by 4.84 per cent to US$27.34 per barrel. — Reuters pic

MOSCOW, March 18 — Global oil prices fell by 5-8 per cent today, with benchmark WTI crude futures dropping below US$25 (RM109) per barrel for the first time since November 2002 amid demand concerns due to the Covid-19 pandemic, reported Sputnik news agency.

As of 12.11 GMT, the price of May futures for Brent crude dropped by 4.84 per cent to US$27.34 per barrel.

Meanwhile, May futures for WTI crude were trading down 8.45 per cent at US$25.02 per barrel, recovering from more than a 17-year low of US$24.90 per barrel reached several minutes earlier. — Bernama

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