Oil prices tumbled anew, falling near their lowest level since 1999, in the latest demonstration that traders are wary of holding crude with a global glut rapidly expanding
Oil prices tumbled anew Monday, falling near their lowest level since 1999 in the latest demonstration that traders are wary of holding crude with a global glut rapidly expanding.
Monday’s slide reversed a rebound from late last week, reflecting mounting skepticism that coordinated supply cuts by the Organization of the Petroleum Exporting Countries and allies will prevent the world’s oil storage from filling to the brim. Many North American producers are also being forced to curb output and shut in productive wells, but analysts...
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