Crude Extends another Leg of Decline

Further selloff in commodity prices damped sentiment and weighed on stock markets. Crude oil prices extended weakness, slumping to the lowest levels in 12 years on oversupply concerns. The front-month WTI contract initial dived to 30.88 before ending the day at 31.41, down -5.28%, while the Brent contract tumbled to 31.17 before settling at 31.55, down 5.96%.

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Crude Extends another Leg of Decline