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Crude oil benchmarks dropped on Monday, extending last week’s losses as the global coronavirus pandemic worsened and the Saudi Arabia-Russia price war showed no signs of abating.

U.S. West Texas Intermediate (WTI) crude (CLc1) futures hit a low of $19.92 in early trading and last traded down 5.2%, or $1.12, at $20.39 .while Brent (LCOc1) futures fell 5.6%, or $1.40, to $23.53 a barrel.

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