Oil falls most since Gulf War as Saudi starts price war

Oil falls most since Gulf War as Saudi starts price war

The Malaysian Reserve-World·2020-03-09 16:09

SINGAPORE – Oil prices plunged by almost a third Monday, the biggest drop since the 1991 Gulf War, as top exporter Saudi Arabia launched a price war after Russia blocked a bid to cut output.

In ferocious trading, both main crude contracts nosedived following Riyadh’s shock move to slash prices after the alliance between oil-exporting group OPEC and its partners fell apart.

……

Read full article on The Malaysian Reserve-World

Business

Comments

Leave a comment in Nestia App