Apr 22, 2020

Opening Quote: First it was WTI, now it’s the turn of Brent crude to crash

After all of the turbulence in the US oil price over recent days, today it's the turn of Brent crude, the international oil marker. Brent prices dropped as much as 17.3 per cent overnight to $15.98, the lowest level since mid-1999, and prices for the benchmark are down around 40 per cent this week. At the moment, Brent is trading 16 per cent lower at $16.30. The contract for June delivery dropped more than 40 per cent yesterday and is down another 6 per cent this morning, at just $10.90. Shares in both Shell and BP are down around 40 per cent since the start of the year, and 50 per cent over the past 12 months.

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