NYMEX WTI futures were testing the $20/b level soon after the start of trading Sunday evening as demand outlooks dimmed amid further intensification of to COVID-19 pandemic despite stepped-up global containment efforts. w At 2230 GMT ICE May Brent was $1.72 lower at $23.21/b and NYMEX May WTI was down $1.46 at $20.05/b. The May WTI contract briefly traded as low as $19.92/b. Global crude demand is forecast to contract 4.5 million b/.d in 2020, according to the latest S&P Global Platts Analytics monthly forecast released Friday. In the US, governments are increasing steps to limit the outbreak, weighing on oil demand. Total cases in the US have topped 137,000 as of late Sunday, according to Johns Hopkins University data. The US Centers for Disease Control and Prevention issued a travel advisory for New York, […]