MELBOURNE (Reuters) – U.S. crude futures fell more than 5% in early trade on Monday, paring last week’s gains, on worries about oil oversupply and tempered hopes for an economic recovery as some U.S. states and cities around the world ease coronavirus pandemic restrictions.
U.S. West Texas Intermediate (WTI) crude () futures fell as low as $ 18.50 a barrel and last traded down 95 cents, or 4.8%, at $ 18.83. The benchmark contract rose 17% last week.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.