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2020-03-26 11:45:00

OIL PRICE: NEAR $27 YET

OIL PRICE: NEAR $27 YET

REUTERS - MARCH 26, 2020 - Oil prices fell on Thursday following three days of gains, with the prospect of rapidly dwindling demand due to coronavirus travel bans and lockdowns offsetting hopes a U.S. $2 trillion emergency stimulus will shore up economic activity.

Brent crude LCOc1 futures fell 64 cents, or 2.3%, to $26.75 a barrel by 0732 GMT. West Texas Intermediate (WTI) crude CLc1 futures fell 78 cents, or 3.2%, to $23.71 a barrel. Both contracts are down about 60% this year.

"Oil…

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