Oil prices at their lowest since 2002
The price of US oil has fallen to its lowest level since 2002 on Friday. The oil markets have been under the spell of the corona crisis for weeks, causing the demand for oil to drop sharply. A recent price war between Saudi Arabia and Russia has now been settled, but experts say that tougher agreements are needed to prop up prices again.
The price of a barrel called the West Texas Intermediate fell to $ 18.54, representing a daily loss of 6.7 percent. Brent oil, the benchmark for oil from, among others, the Middle East and the North Sea, remained fairly stable in price on Friday at around $ 28 a barrel. Oil prices have plummeted recently.