Demand Collapse Flushes Oil, Brent Down 11%

摘要

Oil prices are in free fall with nowhere to go but lower as the coronavirus and government responses to slow its spread crush demand for refined fuels. Global benchmark Brent crude spent part of Monday below the $30 per barrel mark, while gasoline futures on Nymex plunged a breathtaking 23.3% as the market weighed the implications of shuttered schools, bars, restaurants and more in the US, whose gasoline consumption alone accounts for 10% of global oil demand.