ANKARA
Brent crude oil dived below the threshold of $20 per barrel on Tuesday as the novel coronavirus (Covid-19) continues to ramp up oil oversupply amid low global consumption.
The international benchmark fell to as low as $18.02 per barrel, marking its lowest level since February 2002, at 0935 GMT on Tuesday for a 29.27% daily loss after it closed Monday at $25.48 a barrel.
American benchmark West Texas Intermediate (WTI) was trading at $6.95 a barrel at the same time for a 41.88% daily loss after it ended the previous day at $11.96 per barrel.
WTI crude oil fell
