Oil falls 24% in 3rd worst day on record, sinks to more than 18-year low


(Worthy News) – Oil dropped 24% to a more than 18-year low on Wednesday as the coronavirus pandemic continues to sap demand for crude, and as rising worries about a global recession lead to fears of longer-term demand destruction.

U.S. West Texas Intermediate crude fell 24.4%, or $6.58, to settle at $20.37 per barrel, its lowest level since Feb. 2002. At the low of the day, the contract hit $20.06. It was WTI’s third worst day on record. [ Source: CNBC (Read More…) ]

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