Crude oil prices fall on brimming storage, bleak recovery prospects
LONDON: Oil prices plunged for a second day in a row on Tuesday on concerns about dwindling global capacity to store more crude and fears that demand may be slow to recover even after countries ease restrictions to combat the coronavirus pandemic.
Brent crude fell 83 cents, or 4.1 per cent, to $19.16 a barrel at 0808 GMT, following a 6.8 per cent slide on Monday.
US West Texas Intermediate (WTI) crude was down $2.57, or 20 per cent, at $10.21 a barrel. The contract plunged 25 per cent on Monday.
