Oil prices plummet over fears of coronavirus outbreak spreading

PressBee - Russia Today :


The price of crude continued to plunge on Monday, dragged down by fears of the deadly coronavirus outbreak, raising concerns about the global economic growth.
International benchmark Brent crude was down 2.95 percent to $58.90 a barrel, after hitting $58.68 earlier, the lowest level since late October. US West Texas Intermediate crude nosedived more than three percent to $55.52, after falling to a four-month low of $52.1 a barrel.
The coronavirus could cut into demand by around 260,000 bpd and reduce oil prices by about $3 per barrel, according to a report from Goldman Sachs.



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Oil prices plummet over fears of coronavirus outbreak spreading