In the afternoon of Asian trading hours, international benchmark Brent crude futures dropped 13% to $16.82 per barrel. Meanwhile, the June contract for West Texas Intermediate shed all of its earlier gains as it fell 3% to $11.20 per barrel. The July contract for WTI was near flat and last traded below $19 per barrel.
U.S. oil prices recovered on Tuesday to trade in positive territory after sinking below $0 for the first time ever, but international benchmark Brent dipped as demand for crude slumps amid the coronavirus pandemic.
“Iran’s fate with the sanctions is precarious because of its economy is damaged by the sanctions,” a Professor of Political Science and Director of Security Studies says ILNA.
All of Italy under lockdown, reeling financial markets and rioting prisoners made clear on Monday how the global coronavirus epidemic was extending its reach into all aspects of social and economic life.
