WTI Oil Prices Fall To $10/Barrel On Tuesday Before Recovery

28-Apr-20

Tuesday 28 April, Western Texas Intermediate followed Monday’s 30% all with an almost 21% decrease in price before recovering.

It touched an intraday low of $ 10.07 / barrel.

The fall was triggered on Monday after the United States Oil Fund, one of the largest oil exchange-traded funds, announced it would sell all futures contracts for delivery in June over four days.

Persistent fears of oil running out of storage capacity also subdued the market.

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