Home BUSINESS WTI oil slumps 10 percent to new 18-year low

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The benchmark West Texas Intermediate oil contract dived more than ten percent on Friday to a new 18-year low, hit by oversupply and virus-sapped energy demand.
At 1255 GMT, WTI for May delivery sank to $17.53 per barrel, also ahead of the contract’s expiry next week. Friday’s level marked the lowest level since November 2001.
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