Oil is down 12% on suspicion of any deal between Saudi and Russia

Oil prices fell 12 percent after markets opened on Sunday after Saudi Arabia and Russia questioned their ability to strike a deal to cut oil supplies to amplify prices devastated by their monthly price war and the pandemic.

Brent crude fell in early trade, losing more than $ 3 a barrel, but retained most of the profits made last week, following President Trump’s remarks.

Brent hit an 18-year low of nearly $ 20 a barrel early last week before jumping to $ 34 a barrel.

 Trader Georgi Bozhidarov

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