US crude futures fell greater than 5% at the begining of trade on Monday, paring last week’s gains, on worries about oil oversupply and tempered wants a fiscal recovery as some US states and metropolitan areas all over the world ease coronavirus pandemic limitations.
US West Texas Intermediate (WTI) crude futures fell as little as $18.50 a barrel and last traded lower 95 cents, or 4.8%, at $18.83. The benchmark contract rose 17% a week ago.
Moore Martin