Crude oil prices fall to $25, the lowest since 2003

Oil prices crashed as much as 6% today, as it has fallen to $25 per barrel the lowest since 2003, LailasNews can confirm.

Oil prices fell for a third session on Wednesday with U.S. crude futures tumbling to an 18-year low as travel and social lockdowns sparked by the coronavirus epidemic knocked the outlook for demand.

U.S. crude was down $2.51 cents, or over 9%, at $24.44 per barrel by 1219 GMT, having earlier fallen to $24.42, its lowest since mid-2002.

Brent crude was trading down $1.39, or nearly 5%, at $27.34 a barrel, after dropping to $27.31, its lowest since early 2016.