Oil prices plunge after Doha output talks fail
Play
SINGAPORE - Oil prices plunged on Monday after the world's top producers failed to reach agreement on capping output and easing a global supply glut at a meeting in Doha.
The collapse of Sunday's talks sent oil tumbling in early Asia trade, with the US benchmark West Texas Intermediate for May delivery down $2.20, or 5.45 percent, from Friday's close at $38.16. Global benchmark Brent crude for June fell 5.17 percent, or $2.23, to $40.87.
- AFP
