Oil plunges again after sudden index shift prompts firesale


A customer refuels a vehicle at an Idemitsu Kosan Co. gas station in Yokohama, Kanagawa Prefecture, Japan, on Monday, April 27, 2020. Gains in Japanese prices slowed again in March as plummeting oil prices and slumping consumer demand amid the coronavirus pandemic threaten to push the country back into deflation. Photographer: Akio Kon/Bloomberg

CRUDE whipsawed near $11 a barrel after a major index tracked by billions of dollars in funds bailed out of near-term contracts for fear prices may turn negative again.

June futures fell as much as 21% in New York before paring some of the decline to trade 8.8% lower.

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