The US benchmark crude oil price sank to its lowest level ever on April 20 amid an epic supply glut and the Covid-19 pandemic's hit to demand. Photo: AFP

‘Scary’ situation for Singapore traders as WTI crude oil prices crash

  • Those in the island nation, one of the world’s top commodity trading hubs, say the drop is a clear indication of a global supply glut
  • While some see opportunities, the cost of trade financing and storage remain major issues as Covid-19 has slowed international travel to a crawl
Topic |   Energy
The US benchmark crude oil price sank to its lowest level ever on April 20 amid an epic supply glut and the Covid-19 pandemic's hit to demand. Photo: AFP
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