Oil prices resume slide on oversupply and storage concerns

Oil prices resume slide on oversupply and storage concerns

LONDON (Reuters) - Oil prices slumped again on Monday on concerns over scarce storage capacity, especially in the United States, and global economic doldrums from the coronavirus pandemic.. U.S. oil futures led losses, falling by more than $3 a barrel on fears that storage at Cushing, Oklahoma, could reach full capacity soon.. "The shift of open interest away from June will have negative consequences for the liquidity of the contract, potentially leading to greater volatility in its price.". U.S. crude inventories rose to 518.6 million barrels in the week to April 17, near the record 535 million barrels set in 2017..