US Oil Price Deepens Losses, Shedding 5% On Demand Fears

Umer Jamshaid Published October 28, 2020 | 07:50 PM

US oil price deepens losses, shedding 5% on demand fears

US oil prices accelerated losses Wednesday to shed more than five percent in value, as traders fretted that the worsening coronavirus crisis would further slash the world's appetite for crude

London, (UrduPoint / Pakistan Point News - 28th Oct, 2020 ) :US oil prices accelerated losses Wednesday to shed more than five percent in value, as traders fretted that the worsening coronavirus crisis would further slash the world's appetite for crude.

At about 1310 GMT, New York's main contract, West Texas Intermediate crude for delivery in December, tumbled 5.4 percent to $37.44 per barrel. London's Brent North Sea crude for the same month was down 4.6 percent at $39.32.

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