Oil falls 23% in 3rd worst day on record, sinks to more than 18-year low

CNBC ^ | March 18, 2020 | Pippa Stevens

[C19fan]

Oil dropped 23% to a more than 18-year low on Wednesday as the coronavirus pandemic continues to sap demand for crude and as rising worries about a global recession lead to fears of longer-term demand destruction. U.S. West Texas Intermediate crude fell 23.78%, or $6.41, to $20.55 per barrel, its lowest level since Feb. 2002. WTI is on pace for its third worst day on record.

International benchmark Brent crude shed 13.75%, or $3.97, to trade at $24.76, its lowest level since 2003.

[Chgogal]

Yup, we do owe them.

[VeniVidiVici]

Just got fuel oil delivered to my home south of Boston for $2.49 / Gal. - Tom

Um, is that good?

[Regulator]

“and never during all of that history imposed such draconian laws, rules, regulations on the public”

Not even for 9/11. Bush opened the damn border the next day.

There is no such thing as a zero risk society. What is happening now is that the Rat party is yet again seizing on another “crisis” to win elections, and barring that, take power anyway by fiat.

[napscoordinator]

Yet I just filled in Leesburg Florida and it was 2.02 a gallon. We must have high gas taxes.

[husky ed]

Our governor (Inslee) has vowed another $0.57 gas tax. :8v(

Ed