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US oil costs leap after huge rout

US benchmark West Texas Intermediate for June supply rose 18.93 % to $13.76 a barrel, after struggling heavy falls in New York in a single day.

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Updated: Apr 22, 2020 09:39 IST


A gasoline tanker is seen driving into the Vopak Terminal on the Port of Los Angeles, Wilmington, California, US. (Bloomberg)

US oil costs surged Wednesday after a turbulent begin to the week that noticed them fall beneath zero for the primary time because of a coronavirus-triggered demand shock.

US benchmark West Texas Intermediate for June supply rose 18.93 % to $13.76 a barrel, after struggling heavy falls in New York in a single day.

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WTI for May supply on Monday collapsed to an unprecedented low of minus $40.32 as merchants scrambled to promote it earlier than the contract expired Tuesday, however might discover few consumers with storage capability quick filling up.

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European benchmark Brent crude for June supply was up 0.98 % at $19.52 a barrel, after tumbling to an 18-year low the day before today.

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