Shares turn cautious as U.S. crude gets crushed
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Summary
6 Min ReadLONDON/SYDNEY (Reuters) - Caution recaptured world markets on Monday as another drubbing for U.S. crude oil futures kicked off a week of data and earnings that will drive home the damage being inflicted by global coronavirus lockdowns. With some global storage facilities nearly full to capacity, the ‘front-month’ May benchmark U.S. crude contract CLc1 was down $3.40, or 18%, to $14.87 a barrel, having at one point dived as low as $14.47 a barrel - the lowest since March 1999. Italy’s borrowing costs rose meanwhile, heading back towards last week’s one-month highs, reflecting unease before a European Union summit later this week over how to tackle the economic fallout of the coronavirus crisis.
As said here by Marc Jones