Monday, December 23, 2024
Oil at two-decade lows, price of U.S. crude for delivery below zero- oil and gas 360

Oil at two-decade lows, price of U.S. crude for delivery below zero

Reuters LONDON – Benchmark Brent and U.S. oil futures for June delivery plunged to around two-decade lows on Tuesday, a day after U.S. May futures sank into negative territory for the first time in history as demand tumbled due to the coronavirus crisis. Brent for June delivery LCOc1, known as the front-month contract after the May futures contract expired, fell