Oil down 21% – biggest drop in decades follows Saudi price cuts

So there is a silver lining to every cloud … and with coronavirus it is that oil prices have taken a tumble. The lack of demand has triggered Saudi Arabia and Russia to start a price war – oil prices fell more than 30% this morning, although it has now recovered slightly. The fall is the largest single day decline since the 1991 Gulf War. Analysts say the price could …

The post Oil down 21% – biggest drop in decades follows Saudi price cuts appeared first on The Loadstar.

https://theloadstar.com/oil-down-21-biggest-drop-in-decades-follows-saudi-price-cuts/