Oil prices slumped again on Wednesday, with Brent falling to the lowest since 1999, as the market struggled with a massive crude glut amid a collapse in demand for everything from gasoline to jet fuel caused by the coronavirus outbreak.
Brent crude LCOc1, which fell 24 percent in the previous session, touched $15.98 a barrel, its lowest since June 1999. It was trading down $2.37, or 12 percent, at $16.96 at 0511 GMT.
