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Because of Corona's concerns, oil plunges 4 percent
- Time: 02/25/2020 08:29:13
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{International: Al Furat News} Oil prices tumbled about 4 percent on Monday, as the rapid spread of the Corona virus outside China fueled investor concerns about the implications of crude demand.
Global stocks continued to lose their losses as well, as concerns about the virus grew, after the number of new cases jumped in Iran, Italy and South Korea.
Brent crude futures fell $ 2.20, or 3.8 percent, to settle the settlement price at $ 56.30 a barrel.
US West Texas Intermediate crude contracts fell 1.95 dollars, or 3.7 percent, to close at 51.43 dollars a barrel.
Said Phil Flynn, an analyst at Price Futures Group in Chicago: " The spread of Corona virus reports raise fears of further hurt demand. When we saw the significant decline in the stock market, Mtaamilo oil began to sell first and ask questions later" .anthy
Ali al - Rubaie
[You must be registered and logged in to see this link.]
{International: Al Furat News} Oil prices tumbled about 4 percent on Monday, as the rapid spread of the Corona virus outside China fueled investor concerns about the implications of crude demand.
Global stocks continued to lose their losses as well, as concerns about the virus grew, after the number of new cases jumped in Iran, Italy and South Korea.
Brent crude futures fell $ 2.20, or 3.8 percent, to settle the settlement price at $ 56.30 a barrel.
US West Texas Intermediate crude contracts fell 1.95 dollars, or 3.7 percent, to close at 51.43 dollars a barrel.
Said Phil Flynn, an analyst at Price Futures Group in Chicago: " The spread of Corona virus reports raise fears of further hurt demand. When we saw the significant decline in the stock market, Mtaamilo oil began to sell first and ask questions later" .anthy
Ali al - Rubaie
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