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The rate of US oil has actually been up to a level not seen given that 1999, as need dries up and storage going out.
The cost of a barrel of West Texas Intermediate (WTI), the benchmark for US oil, dropped 14%to $1565 in Asia trading on Monday.
The oil market has actually come under intense pressure throughout the coronavirus pandemic with a big downturn in need.
United States storage facilities are now having a hard time to manage the glut of oil, damaging costs further.
The oil market has actually been battling with both toppling demand and i