Predictions over collapsing global oil demand due to the spread of coronavirus are continuing to spiral, further depressing oil price forecasts, after the US extended its latest lockdown guidance. Brent crudes futures fell $2.35/b to a new 17-year low at $22.58/b Monday after US President Trump announced plans to extend social distancing in the world’s biggest oil consumer until April 30. Trump had previously said he hoped the restrictions could begin to be lifted by the Easter weekend, or April 10-13. Most market-watchers expected the lockdowns to continue to roll on for much longer, however, further denting oil demand expectations this year. This week, global oil demand will drop […]