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Topic: US oil sinks towards $10 as fund sells off holdings  (Read 1138 times)

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US oil sinks towards $10 as fund sells off holdings
« on: April 28, 2020, 01:00:44 pm »
US oil sinks towards $10 as fund sells off holdings

US oil nosedived towards $10 a barrel Tuesday after a major exchange-traded fund started selling its short-term contracts of the commodity, and storage concerns mounted as the coronavirus strangled demand. In morning London deals, West Texas Intermediate crude for June delivery tumbled more than 21 percent to $10.07 — having plunged 25 percent a day
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