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5.B. - Page 56 of 59 <br />Energy Price Collapse Adds to Market Turmoil <br />Price of Oil <br />WTI crude oil futures, $/barrel <br />$65 <br />$55 <br />$45 <br />$35 <br />Over the weekend of 317-3/8, Saudi Arabia announced plans to cut selling <br />prices in response to Russia voting against oil production cuts. The ensuing <br />$25 price war has further exacerbated the oil and energy industry which was <br />already suffering from lower global demand due to the coronavirus. <br />$15 <br />12/31/19 <br />1/14/20 1/28/20 2/11/20 2/25/20 3/10/20 3/24/20 <br />Source: Bloomberg, as of 3/25/2020. <br />© PFM <br />11 <br />65 <br />