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    United States 2020-04-20 08:06:15
    Technical index Crude Oil Slides As Markets Fret Covid Demand Hit

    CRUDE OIL AND GOLD TALKING POINTS:

    Crude oil prices sank as the prospect of huge supply meeting very limited demand glowered over the market
    Imminent May futures contract expiry didn’t help
    Gold prices inched higher through the session and remain well supported despite a break of their recent uptrend
    US crude oil prices plummeted in Monday’s Asia Pacific morning as the market continued to worry about a coronavirus-related collapse in demand even as supplies remain ample despite production cuts.

    The price of West Texas Intermediate for May delivery fell to $15.43/barrel, with the futures contract due to expire this week for that month. Prices are now at lows which haven’t been seen for more than twenty years.

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