Oil collapses by another 24% to $20. It hasn’t been this low since 2002
3/18/20
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from CNN,
3/18/20:
The nightmare in the oil industry keeps getting worse. It’s now facing the weakest oil price since the first term of President George W. Bush.
Intensifying recession fears drove US oil prices down a staggering 24% Wednesday to $20.37 a barrel. That’s the lowest level since February 2002.
The relentless selling is being driven by a crushing combination of excess supply and shrinking demand. And it’s dealing a crushing blow to America’s once-booming oil industry.
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