US oil price plunges almost 40% to 22-year low

US oil dives to nearly $11 per barrel, the lowest level since 1998, extending a dizzying plunge to almost 40 percent on abundant supplies and virus-sapped demand.

Just before 1200 GMT, the US benchmark West Texas Intermediate (WTI) crude for May delivery tanked to $11.31 per barrel, as the market was hit also by technical trade ahead of the contract’s expiration later today.

— AFP