US crude tumbled as much as 3.5% on Friday, hitting a fresh six-week low of $76.17 a barrel. In just nine days, oil prices have sunk 10%.
“We will definitely see some pricing relief on gasoline at the pump,” Tom Kloza, president of the Oil Price Information Service, told CNN on Friday, adding that the relief will be “feather-like as opposed to plunges.”
“It looks for now as though the 2021 peaks have been established,” Kloza said.
The lockdown is raising fears in the oil market of tough new health restrictions…