Prices of oil decline over coronavirus


The prices of crude oil decreased on Monday due to the increasing cases of Corona virus in the United States and China, the biggest oil consumers in the world.

The international benchmark Brent crude stood at USD58.52 per barrel, representing a drop of 3.57 percent as it was trading at USD60.69 per barrel on Friday.

American benchmark West Texas Intermediate was came in at USD52.94 per barrel, a drop of 2.3 percent as it traded at USD54.19 per barrel on Friday.

The health department of China said that the number of deaths due to the coronavirus rose to 80, adding that the country registered 2,744 cases and 461 remain in a serious condition.


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.