(Bloomberg) — Oil extended its slide below $40 a barrel after Saudi Arabia cut its pricing for oil sales in October, a sign that the world’s biggest exporter sees fuel demand wavering amid more coronavirus flare-ups around the globe.Futures in New York fell as much as 2.8%, after dropping almost 4% on Friday. The kingdom’s state producer, Saudi Aramco, reduced its key Arab Light grade of crude by a larger-than-expected amount for shipments to Asia, its main market. It also lowered pricing for U.S. buyers.U.S. crude retreated 7.5% last week, the biggest weekly loss since June, on concerns over weakening …read more
Source:: Yahoo Finance
