Oil tests multidecade lows as global supply glut looms

摘要

New York—Crude oil futures settled lower Friday, erasing gains seen earlier this week as markets eyed a budding global supply overhang in light of pandemic-weakened demand outlooks. ICE May settled down $1.41 at $24.93/b, just 5 cents above a 17-year low reached last week, while the NYMEX May WTI contract shed $1.09 to settle at $21.51/b.