Crude Oil Threatens Double-Digit Drop As Coronavirus Selloff Continues
In a world awash with oil supplies, the hits just keep on coming. Since last Thursday, Feb. 20, crude oil traders have sent prices of the world's largest crude benchmarks down sharply, erasing nearly all of the gains since the 2020 low on Feb. 10.
Feb. 24 was a particularly painful day for oil markets. West Texas intermediate crude fell more than 5%, while Brent crude futures fell to $55.13 per barrel only a few trading days after approaching $60 per barrel.
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Source Fool.com