India, April 30 -- After moving sharply lower over the two previous sessions, the price of crude oil showed another significant move to the downside during trading on Wednesday.
Crude for June delivery plunged $2.20 or 3.6 percent to $58.22 a barrel and has now plummeted by nearly $5 a barrel for the week so far.
For the month of April, crude for June delivery nosedived by 18 percent, marking the biggest monthly percentage decrease since November 2021.
The continued slump by crude oil futures came amid ongoing concerns about the outlook for demand after the Commerce Department released a report showing the U.S. economy unexpectedly shrank in the first three months of 2025.
The Commerce Department said real gross domestic product fell by...