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Crude futures plunge presages more oil woes in Singapore

Market was already under strain from low prices and plummeting demand for oil

Annabeth Leow

Published Tue, Apr 21, 2020 · 09:50 PM

Singapore

THE shock plunge of US crude futures into negative territory is unlikely to worsen the outlook for Singapore's oil exports and petrochemical sectors, economic watchers have said.

Yet the unprecedented overnight drop is another red flag in a market already under strain from low prices and plummeting demand for oil.

KEYWORDS IN THIS ARTICLE

Oil prices

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Singapore

Crude futures plunge presages more oil woes in Singapore

Annabeth Leow

KEYWORDS IN THIS ARTICLE

Economy & Policy

NTUC aims to do more to support PMEs, who now account for nearly half its membership

Daily Debrief: What Happened Today (Apr 25)

Singapore’s inflation eases more than expected in March, with headline inflation at 2.5-year low

8 in 10 firms in S-E Asia, Greater China positive about business environment: UOB survey

Flexi-work request guidelines not meant to prescribe blanket outcomes for employers or influence hiring of workforce: SNEF

Daily Debrief: What Happened Today (Apr 23)

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