Oil prices extend losses amid concerns over rising global supply glut ...United Arab Emirates

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Oil prices extend losses amid concerns over rising global supply glut
Crude prices continued to freefall on Tuesday, with US West Texas Intermediate (WTI) trading around $10 a barrel amid fears that the world is running out of places to store the commodity as the Covid-19 outbreak crushes demand. The price of WTI contracts for June delivery fell by nearly 20 percent on the New York Mercantile Exchange, extending the huge decline in the previous session that erased around a quarter of their value. Meanwhile, international benchmark Brent traded down five percent, at $18.91 per barrel. Read more OPEC+ strikes last-minute deal to cut almost 10 mn

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