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chemgear · 03-08-2020, 07:35 PM

https://www.cbc.ca/news/canada/calga...ices-1.5490535

Oil prices dramatically dropped as markets opened in Asia on Monday, down more than 25 per cent after a 10 per cent drop on Friday.

West Texas Intermediate crude fell $9 US to $32 and international benchmark Brent fell $11 to $34.

It was the largest single-day drop since 1991.

"Roughly every dollar [per barrel] is about $350 million to the government … We're talking about a $7 billion decline in revenue expectations," he said.

03-08-2020, 07:35 PM	#4968
chemgear Franchise Player Join Date: Feb 2010 Exp:	https://www.cbc.ca/news/canada/calga...ices-1.5490535 Oil prices dramatically dropped as markets opened in Asia on Monday, down more than 25 per cent after a 10 per cent drop on Friday. West Texas Intermediate crude fell $9 US to $32 and international benchmark Brent fell $11 to $34. It was the largest single-day drop since 1991. "Roughly every dollar [per barrel] is about $350 million to the government … We're talking about a $7 billion decline in revenue expectations," he said.