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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

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Annabeth Leow

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.

    Singapore economyOil prices

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