Crude oil benchmarks fell sharply on Monday, with Brent hitting its lowest since November 2002, as fears grew over the coronavirus pandemic eroding demand and the Saudi Arabia-Russia price war threatened to overload the market.
Brent futures were down 4.15%, to $26.78 a barrel as of 07:58 Moscow time, after earlier dropping to $23.03, the lowest since November 2002.
U.S. West Texas Intermediate (WTI) crude futures fell as far as $19.92, near an 18-year low hit earlier this month, and was last trading down 4.6% at $20.51 a barrel, Reuters reported.
