Looming Recession Sparks New Oil Sell-Off

Travel bans, border closures, and recommendations for self-isolation amid the coronavirus pandemic have aggravated fears of a global recession and pushed money managers to intensify the sell off of crude oil and fuels contracts, data reported by Reuters’ John Kemp shows. While just two weeks ago things were beginning to look up for oil after the first sell-off wave, now the future looks bleak.

 

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