Oil slump deepens as Europe faces pandemic lockdowns
Prices plunged the most on Thursday since last summer, leaving oil down nearly 10% this week with the reality that the pandemic is abiding, even if infections have plummeted in the U.S., the worst-hit country and biggest crude consumer.
Reuters | , Tokyo
PUBLISHED ON MAR 19, 2021 07:46 AM IST
Rising Covid‑19 cases, particularly in Brazil, also weighed on the demand outlook, and a stronger U.S. dollar pressured oil prices.