SINGAPORE: US oil nosedived towards US$10 a barrel on Tuesday (Apr 28) after a major exchange-traded fund started selling its short-term contracts of the commodity, and storage concerns mounted as the Covid-19 (coronavirus) strangled demand.
In morning London deals, West Texas Intermediate crude for June delivery tumbled more than 21% to $10.07 -- having plunged 25% a day earlier.
Already a subscriber? Log in.
Subscribe to win RM50 Touch 'n Go e-Voucher! More Info
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!