Oil prices fell over 2% on Thursday, plunging for a fifth day to their lowest si...
LONDON - Oil prices fell over 2% on Thursday, plunging for a fifth day to their lowest since January 2019 as a rise in new coronavirus cases outside China fueled fears of a pandemic that could slow the global economy and dent demand for crude.
For the first time since the start of the coronavirus outbreak erupted in China, the number of new coronavirus infections outside the country exceeded new Chinese cases. “The negative price impact would intensify if the coronavirus were declared pandemic by the World Health Organization, something that looks imminent,” said PVM Oil Associates analyst Tamas Varga.
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