The May futures contract for U.S. crude oil extended losses Monday, touching the lowest level since 2001, as fears about a shock to demand due to the coronavirus pandemic and worries about a lack of storage looked set to hammer the commodity to start the week.
West Texas Intermediate crude for May delivery CLK20, -28.74% CL.1, -28.79% was trading down 26%, at last check Monday in New York, off $4.85, at $13.44 a barrel, near its intrasession low at $13.30, representing the lowest level since around 2001.
