COMMODITY
Crude oil futures end lower on Friday
Mar-28-2020

Extending their previous session’s losses, crude oil futures ended lower on Friday as worries about energy demand outlook outweighed massive stimulus announced by central banks and governments to limit the economic impact of the coronavirus spread. Meanwhile, Saudi Arabia said that the kingdom has not had any contacts with Moscow about oil production cuts or building out the OPEC+ alliance. Besides, oil prices have collapsed in March, with the near-lockdown of major economies in response to the COVID-19 pandemic slashing demand for crude. Month to date, WTI and Brent prices have each lost roughly 50%.

Crude oil futures for May fell $1.09 or 4.8 percent to settle at $21.51 a barrel on the New York Mercantile Exchange. May Brent crude declined $1.41 or 5.4 percent to settle at $ 24.93 a barrel on London's Intercontinental Exchange.

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