US oil price plunges almost 40 per cent to 22-year low

New York oil crashed Monday to nearly $11 per barrel, the lowest level since 1998, extending a dizzying plunge to almost 40 percent on abundant supplies and virus-sapped demand

Just before 1200 GMT, the US benchmark West Texas Intermediate (WTI) crude for May delivery tanked to USD 11.31 per barrel, as the market was hit also by technical trade ahead of the contract's expiry later Monday.