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Monday, April 20, 2020

Report: US Crude Falls to $15 a Barrel

U.S. crude oil May futures fell to $15.54 a barrel on Sunday, the Financial Times reported.

Oil futures were last that low in 1999.

Caution gripped Asian share markets on Monday on expectations a busy week of corporate earnings reports and economic data will drive home the damage done by the global virus lockdown, while a glut of supply sent U.S. crude spiraling to 20-year lows.

Japan reported its exports fell almost 12% in March from a year earlier, with shipments to the United States down over 16%. Early readings on April manufacturing globally are due on Thursday and are expected to show recession-like readings.

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13 comments:

Anonymous said...

When the oil futures were that low back in 1999, gas was .99 at the pump. Yes I have a good memory, and I have reminded people many times over the years that gas is never a given to remain high priced forever. The is some serious collusion by the oil companies and local retailers keeping the price exorbitantly high right now.

Anonymous said...

As I read this article, the price is now at $12.00! Let’s just stay shut down two more weeks, our Nation’s financial system and economy should be just about totally destroyed by then. Just two more weeks please, and my Biden will come to the rescue.

Anonymous said...

Time for a gas tax to build infra-structure that both parties agree on

Anonymous said...

Well our damn gas stations need to DROP their gouging prices to 50 Cents

Anonymous said...

Yet gas in Maryland still $1.90 a gallon

Anonymous said...

Prices fall when?

Never - not as long as BIG OIL is in charge.

Fattening frogs (consumers) for snakes (BIG OIL)

Anonymous said...

Biggest Gougers in America & they get in NO trouble for it !!! WHY ????

Anonymous said...

They Holding oil off the Market so the price Will Not drop & that should be

Fkkkking ILLEGAL ILLEGAL folks !!!!!!

They don't care about us , & that Proves it !!!!

Anonymous said...

They will cry for Bailouts too very soon from your GOVT !!! Hell NO !!!

Time to Bail-out the American People this damn time !!! 2020

Anonymous said...

Down under $1.50 at 2pm.

Anonymous said...

Trump needs to order 50 cents per gal Price Cap All 50 states !!! NOW

Anonymous said...

Gas is still high because of all the taxes they put on it. You could never have gas at .50 agallon because the tax is higher than that. Just like cigarettes. I can get a carton on a cruise ship for 25$ but ind MD have to pay 60$!

Anonymous said...

Take OFF the damn TAX during the Natl / World Emergency !!!! Fixed !!!