BRENT BELOW $20 PER BARREL, US OIL DIPS 27%

NEW YORK: Brent crude fell below $20 a barrel and US crude plunged 27% on Monday, driven lower by skittish investors fleeing the US benchmark due to lack of available storage to deal with a coronavirus-induced collapse in demand. Even as governments worldwide are taking tentative steps towards reducing restriction on movement to help economies rebound, fuel demand remains weak. Fuel demand is down 30% globally, and storage is becoming precious, with roughly 85% of worldwide onshore storage full as of last week, according to Kpler data. Economic concerns continue to plague the market.