NEW YORK: Crude oil benchmarks ended a volatile quarter with their biggest losses in history, as both U.S. and Brent futures were hammered throughout March on the global economic freeze due to the coronavirus pandemic and the eruption of a price war between Russia and Saudi Arabia.
Both benchmarks lost roughly two-thirds of their value in the quarter, with March's declines of about 55% accounting for the lion's share of the losses.
U.S. West Texas Intermediate crude posted a modest 2% gain on Tuesday, while Brent ended slightly lower.
...