Crude values tumble again

摘要

CRUDE futures attempted a halfhearted rally in midweek following two days of heavy losses that sent international benchmarks crashing to nearly three-month lows amid a souring demand outlook and a persistent global glut. US West Texas Intermediate (WTI) plunged by 7% on Tuesday to $36.76 per barrel, the lowest closing price in nearly three months. Brent crude, the world benchmark, fell below the $40-per-bar-rel support level for the first time since late June. The rout followed a surprise decision by Saudi Aramco to slash prices for shipments to the key Asia market for October. Tough words from US President Donald Trump on distancing US and China economies also unnerved investors at a time of a depressed outlook for energy demand due to rising coronavirus infections around the globe.