Oil pares back some losses but set to have worst week since 2008
Both Brent crude and WTI are at less than $35 a barrel as US producers prepare to cut investment and drilling plans due to plunging prices
13 March 2020 - 13:01
London — Oil prices were up more than 5% on Friday but set for their worst weekly drubbing since the 2008 financial crisis as investors fret over the coronavirus knocking demand and plans by producers to boost output.
Brent crude was up $1.77, or 5.3%, at $34.99 a barrel by 10.11am GMT after falling more than 7% on Thursday. Brent is set to fall by about 23% this week, its biggest weekly decline since December 2008 when it fell nearly 26%...
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