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American crude loses more than 14% in the Asian markets

Category: Economy

Date: 2020-04-28T09:41:58+0000
American crude loses more than 14% in the Asian markets

Shafaq News/ WTI crude price dropped by more than 14% in Asian markets after a tradable investment fund in the Stock Exchange started selling short-term oil contracts.

This "sweet light oil", which is considered a standard in pricing American raw materials, plunged by 14.8% in electronic trading, to reach 10.88 dollars per barrel, amid growing investor fears about the excess supply and the lack of storage capacity.

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