(Bloomberg) — Oil extended its slide in Asia, trading at near two-decade lows after agreed cuts by the biggest producers were seen barely making a dent in the demand destruction wrought by Covid-19 and on increasing concerns that traders are quickly running out of room to store crude.Futures in New York dropped as much as 5.5% to the lowest since November 2001, following a 20% slump last week. China reported its first economic contraction in decades on Friday, a sign of how bad things could get in Europe and North America, which have yet to emerge from virus lockdown.Near-term prices …read more
Source:: Yahoo Finance
