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The price of a barrel of Brent Crude – the UK benchmark for oil – has slipped below $20, its lowest level since 2002.

The close to 20% slump follows negative prices being recorded for a barrel of West Texas Intermediate (WTI), the benchmark for US oil.

Negative oil prices on Monday were a “quirk”, says one market expert.

The price of US oil – which slumped to minus…

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