Benchmark Brent and U.S. oil futures for June delivery plunged to around two-decade lows on Tuesday, a day after U.S. May futures sank into negative territory for the first time in history as demand tumbled due to the coronavirus crisis.
Brent for June delivery, the front-month contract, fell to as low as $18.10, its lowest since November 2001. At 1400 GMT, it was down 20% at $20.47.The June contract for U.S. West Texas Intermediate (WTI) crude dropped 23.7% to $15.59, after hitting its lowest since 1999.