Oil prices plunged on Monday to their lowest levels in eighteen years, below $20 per barrel, as the coronavirus pandemic continues to cripple global oil demand with no signs of Saudi Arabia backing down on its promised supply surge.

At 11:25 a.m. EDT on Monday, WTI Crude had plunged to the $20 mark—and traded at $20.29, down by 5.67 percent on the day. Brent Crude prices had tumbled below $26—at $25.71, down by 8.01 percent today. Oil prices have lost more than 60 percent so far this year and hit on Monday their lowest level since 2002 as travel restrictions and lockdowns in major economies wipe out millions of barrels of oil per day of global oil demand…CLICK for complete article