Coronavirus: Brent oil prices fall under $20, lowest price in nearly 20 years

An oil pump. (File photo: Reuters)

Brent North Sea crude slumped to under $20 per barrel on Tuesday, reaching the lowest level for more than 18 years as the coronavirus pandemic slashed demand.

Europe’s benchmark oil contract reached $18.10 per barrel before shooting back up to $21.51 in volatile trading.

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Last Update: Wednesday, 20 May 2020 KSA 10:06 - GMT 07:06