Brent Oil plunged to an 18-year low level, down ~ 19%

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Brent Oil plunged to an 18-year low level, down ~ 19%

On April 21st trading hours, the international oil benchmark Brent Oil June Futures slumped by ~ 19.2% to US $ 20.66/bbl at 03:40 PM GMT. During the day trading session, Brent Oil swooped to an 18-years low level of US$ 18.13/bbl, a level which was last spotted in January 2002. Supply glut of oil despite an agreement negotiated between OPEC+ cartel has resulted in storage problem of oil in the market and has led this free fall in the oil market.

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