U.S. oil prices settle down nearly 4% as coronavirus outbreak spreads
Tuesday, 25 February 2020 02:59 WIB | ENERGY |Minyak MentahMinyak WTI

Oil futures settled lower on Monday, with U.S. prices losing almost 4% as the market continued to fret over the impact of coronavirus on energy demand.

"It could be a bloodbath for oil in the short-term as the risks of a global pandemic will cripple travel and trade," said Edward Moya, senior market analyst at Oanda, in a market update. He said U.S. benchmark crude futures may trade in the mid-$40s by the end of the week "if the number of cases continue to spread across Europe and the Middle East."

April West Texas Intermediate oil fell $1.95, or nearly 3.7%, to settle at $51.43 barrel on the New York Mercantile Exchange.

Source : MarketWatch

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