WTI June futures near $10 a barrel as world runs low on storage capacity amid frail demand
Updated : April 28, 2020 02:14 PM IST
US West Texas Intermediate (WTI) crude futures fell to as little as $10.64 a barrel on Tuesday, and were off 12.8 percent, or $1.64, at $11.14 a barrel as of 0635 GMT.
Brent crude futures fell to a low of $18.85 and were last down 4.3 percent , or 85 cents, at $19.14 a barrel.
Strategists said part of the WTI decline is due to retail investment vehicles like exchange-traded funds selling out of the front-month June contract and buying into months later in the year to avert massive losses like last week, when WTI plummeted below zero.