Brent Crude Falls Below $30, Threatens 16-Year Lows
Brent crude oil futures fell almost 13% on March 16, sending the most important global oil price benchmark below $30 for the first time since Feb. 11, 2016, when it closed at $28.82 per barrel. The major U.S. benchmark, West Texas Intermediate, joined Brent in the rout, falling almost 10% to $28.63 per barrel.
That puts both Brent and West Texas crude down more than 55% since early January, one of the fastest 50% drops for crude oil in decades.
Consumers may be the only winners in the 2020 oil price war. Image source: Getty Images.
Source Fool.com
