London: US West Texas Intermediate crude oil fell to $ 10.34 a barrel on Monday in the international market.
This is its lowest level since 1986. Due to the Corona virus crisis, worldwide demand for oil has been falling continuously.
Later, it showed some improvement as per Global Standard Time (Greenwich Mean Time) at 3 pm (Indian time at 8.30 pm) and saw a slight improvement and was running at $ 10.82 per barrel. Still it was 41 percent lower than Friday.
Traders said the price drop was worrisome as the May delivery contracts were to be settled by Monday evening but no investor was willing to take the actual delivery of oil.
