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Oil prices sink to 20-year low as UN sounds alarm on Covid-19 relief fund

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Oil prices sink to 20-year low as UN sounds alarm on Covid-19 relief fund

US crude dipped below $15 as Trump battled states over economy and UN warned it has only a quarter of its requested coronavirus funding

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Oil prices have slumped to their lowest for two decades as doubts grew about Donald Trump’s hopes of ending the US lockdown and investors braced for a week of potentially damaging figures about the impact of the coronavirus on the world economy.

The price of US crude oil plunged almost 20%, to below $15, in early trading on Monday – its lowest point since 1999 – as stockpiles continued to build owing to a crash in demand caused by the Covid-19 pandemic.

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