Brent Crude Falls to 17-Year Low

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Crude crashed to its lowest in 17-years as virus lockdowns cascade through the world’s largest economies. The market has been roiled by cratering demand and an unmanageable surplus while Russia and Saudi Arabia remain at odds about curbing output.

As a result, the domestic price of crude oil West Texas Intermediate has nosedived from $63.27 per barrel on January 6 to $21.51 on March 27, a decline of 66 percent.

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