Crude oil futures drop at open

© Reuters. FILE PHOTO: Pump jacks operate at sunset in an oil field in Midland

(Reuters) – Crude oil benchmarks slumped at the open of electronic trading on Sunday, extending last week’s losses as the global coronavirus pandemic worsened and the Saudi Arabia-Russia price war continued unabated.

In early trading, futures fell 3.8% to $23.99 a barrel as of 6:04 p.m. EDT (2204 GMT), while futures lost 4.1%, or 88 cents, to $20.63 a barrel.

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