Crude oil prices continue free fall, may slide to $20 per barrel mark
NEW DELHI : Global oil prices remained suppressed, with countries going into a lockdown amid concerns over the Covid-19 outbreak.
The West Texas Intermediate (WTI) traded at $23.41 per barrel on Wednesday, while the international benchmark Brent was trading at a 16-year low of $26.02 per barrel, far below the highs of $147 per barrel of July 2008.
Goldman Sachs expects crude prices to touch the $20 per barrel mark. Analysts said the current oil supply surplus situation is possibly the worst ever recorded.
