US sees lowest oil price of the century

Expiring futures and swelling stockpiles make the US benchmark oil drop by 17 percent Monday morning, while Brent's decline is markedly smaller.

Photo: Todd Korol/REUTERS / X00147

The price of US West Texas Intermediate crude for delivery in May dives Monday morning by 17 percent. One barrel trades at USD 15.27, while Friday's price was USD 18.41.

This is the lowest price for the benchmark oil since 1999.

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