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Oil down about 20 per cent after Saudi price cuts
The two main contracts were both down about 20 per cent, with West Texas Intermediate sliding to about USD 32 a barrel and Brent crude to about USD 36 a barrel.
Updated on: Mar 9, 2020, 06:26:17 IST
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Oil plunged about 20 per cent Monday after Saudi Arabia made deep price cuts following a failure by OPEC and its allies to strike a deal to support energy markets.
The two main contracts were both down about 20 per cent, with West Texas Intermediate sliding to about USD 32 a barrel and Brent crude to about USD 36 a barrel.
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