Oil was slammed by the prospect of further disruption to the US economy and with Saudi Arabia apparently determined to pursue a price war with Russia and American producers to regain market share.
Prices are also suffering as demand collapses and the price war between Saudi Arabia and Russia drags on.
Brent crude futures, the global oil benchmark, were down 8.6%, last trading at $22.79 per barrel. US oil is trading at $20.27 per barrel, down 5.8%.It fell as low at $19.92 a barrel this morning.
Reuters reported last week that Russia was seeking talks to end the standoff, which has led to a supply glut at a time when demand for energy has plunged. But a Saudi official said Friday that the talks weren't happening, despite rising pressure from Washington.
"Trading" - Google News
March 30, 2020 at 06:12PM
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Investors brace for another wild trading week: Live updates - CNN
"Trading" - Google News
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