HONG KONG: Oil prices collapsed to more than two-decade lows Monday (April 20) as traders grow concerned that storage facilities are reaching their limits, while signs that the coronavirus may have peaked in Europe and the United States were unable to help Asian equities extend their recent advances.
US crude benchmark West Texas Intermediate briefly plunged almost 20% to below US$14.50 -- its lowest since 1999 -- as stockpiles continue to build owing to a crash in demand caused by the Covid-19 pandemic.
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