Oil slips amid growing fear about virus outbreak
Extremely negative expectations are driving markets, Saudi Arabian energy minister says
27 January 2020 - 07:57
Tokyo — Crude prices fell more than 2% to multimonth lows on Monday as the rising number of cases of the new coronavirus in China and city lockdowns there deepened concerns over oil demand, even as Saudi Arabia’s energy minister sought to calm the market.
Brent crude fell by $1.36 a barrel, or 2.2%, to $59.33 by 6.25am, having earlier dropped to $58.68, its lowest since late October. US crude was down by $1.30, or 2.4%, to $52.89, having earlier eased to $52.15, the lowest since early October...
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