Oil Prices Log Lowest Finish in Over 3 Months as Coronavirus Stokes Fears of Weak Demand
Tuesday, 28 January 2020 03:46 WIB |
Oil prices fell for a fifth session in a row on Monday, settling at their lowest in more than three months, as the growing death toll and spread of China's deadly influenza over the weekend incited fresh fears that the illness could hurt global energy demand.
West Texas Intermediate crude for March delivery declined by $1.05, or 1.9%, to settle at $53.14 a barrel on the New York Mercantile Exchange. Prices for the front-month contract, which fell 7.5% last week, settled Monday at their lowest since Oct. 15, according to Dow Jones Market Data.
March Brent crude fell $1.37, or 2.3%, to $59.32 a barrel on ICE Futures Europe following a 6.4% decline last week. Prices for the global benchmark logged their lowest finish since Oct. 21.
Source : Marketwatch