Oil's record coronavirus slide is nowhere near bottom

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Oil's record coronavirus slide is nowhere near bottom

Oil prices saw a historic drop in the first quarter of 2020, and it's only going to get worse. West Texas Intermediate crude oil, the U.S. benchmark, plunged 67 percent over the past three months to settle at $20.48. Brent crude, the international benchmark, has tumbled 65 percent to $22.71 so far. Both are the biggest quarterly declines on record. âWe've got all the ingredients for a price crash,â Stephen Schork, founder and editor of the daily oil subscription newsletter The Schork Report, told FOX Business.

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