29 Apr 2020 | 10:00 UTC — London
Infographic: Market Meltdown: Why the Brent crude price matters
Both Dated Brent and ICE Brent futures remain under pressure after hitting 21-year-lows on April 21 as the coronavirus pandemic obliterates oil demand, overwhelming global storage capacity.
The North Sea benchmarks have become the latest global oil measure in focus after the NYMEX WTI contract – anchored around landlocked Cushing, US -- dipped into negative territory for the first time ever. They are used to price more than half of the world's crude, and are closely watched as a barometer for the oil market.
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