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Oil prices fall to lowest level in 18 years amid coronavirus outbreak

Oil prices fall to lowest level in 18 years amid coronavirus outbreak

Brent crude, the key international oil price benchmark, plunged 6% on Monday to $26.17/ barrel as countries around the world shut down swathes of their economies to halt Covid-19’s spread. Demand has fallen by more than half in the past month as people stay at home, companies cut back on production & airlines grounded. However, Saudi Arabia & Russia price war has seen oil supplies remain buoyant.

Milan
Milan
Paris Cloud
Paris Cloud 5 months

I like the low gas prices. Too bad I can't take advantage of it because I'm working from home now. At least I'm not spending that money on gas right now.

Up
Up 5 months

I got a full tank.... annnnnnnnd we're quarentined. 😒

Andre Junior
Andre Junior 5 months

In Arkansas, gas is about 1.59 in some areas and 1.79 in others.

Lev
Lev 5 months

Oh the humanity think of the Russian budget... what will they do now: how will they finance terrorists around the world, invasions, assassinations, murders... and the goddamn annexations...

Joseph Cribari
Joseph Cribari 5 months

Gas prices have nothing to do with any pandemic. In fact, were the virus actually a serious threat (80% recovery rate) gas prices would soar.

Brandon
Brandon 5 months

National average for gasoline is currently $2.02. Oil price is down, but gas still costs 50% more than in 2002.

Rational
Rational 5 months

Yet gasoline prices are not as cheap as they should be. I understand it takes about six weeks for the oil that we import to get here and the fact that the majority of the oil we produce we explored to other countries. Still the American people are being taken for a ride for the benefit of the wealthy.

Ben Song
Ben Song 5 months

Too bad gas prices are not this low when we're not quarantined.

darkwingsmurf
darkwingsmurf 5 months

Does that mean I’ll get to see gas under $2

Cindy
Cindy 5 months

News on

npc8472
npc8472 5 months

Funny how gas 18-20 yrs ago was bairly a dollar a gal. Still paying well over that at the pump....them fuel taxes sure do make up a big chunk of what we pay....a shining example of an ever growing government.

Meyer
Meyer 5 months

Let is fall

neo the one
neo the one 5 months

That's funny, here in commiefornia gas is still over 3.20 a gallon...thanks dems

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