Brent Crude Oil Dips Below $50 First Since December 2018 as COVID-19 Fears Rock Markets
Energy markets continue to suffer amid worldwide coronavirus fears, with Brent crude oil dipping below $50 a barrel for the first time since December 2018, WTI Crude falling below $45, and oil price charts on Friday showing an average drop of 4 percent across indexes and futures
MOSCOW (Pakistan Point News / Sputnik - 28th February, 2020) Energy markets continue to suffer amid worldwide coronavirus fears, with Brent crude oil dipping below $50 a barrel for the first time since December 2018, WTI Crude falling below $45, and oil price charts on Friday showing an average drop of 4 percent across indexes and futures.
This is compounded by the average 3 percent drop with which markets opened trading on Friday morning, collectively the worst showing in over two years.
The downturn comes on the back of widespread turmoil in stock markets worldwide as all the more nations announce cases of coronavirus infections.