ShippingWatch

Oil extends slump below USD 100 with retreat gathering momentum

The latest developments to rattle the oil market are a resurgence of virus cases in China, the world’s biggest crude importer, and what appears to be progress in cease-fire talks between Ukraine and Russia.

Photo: Joe Raedle/AFP/Ritzau Scanpix

West Texas Intermediate oil futures have shed around 20 percent since closing at the highest since 2008 a week ago, dropping below USD 100 a barrel on Tuesday. That followed a tumultuous period of trading that saw prices fluctuate wildly, with intraday swings for global benchmark Brent crude eclipsing USD 20.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Tanker companies pay out massive dividends after boom

Hafnia, Torm, Norden and Scorpio Tankers have seen big profits this year in a strong tanker market, which has been highly affected by Russia’s war in Ukraine. The carriers are now sending record-high dividends out to stakeholders.

Further reading

Related articles

Latest news

See all jobs