Global oil prices are falling on Monday, and the benchmark Brent futures are falling by over 5 percent over concerns about the coronavirus-related demand
MOSCOW (Pakistan Point News / Sputnik - 16th March, 2020) Global oil prices are falling on Monday, and the benchmark Brent futures are falling by over 5 percent over concerns about the coronavirus-related demand.
As of 6:53 GMT, Brent futures for delivery in May were down 5.29 percent to $32.06 per barrel, while May futures for WTI crude fell by 3.67 percent to $30.93 per barrel.
Gold, commonly used by investors as a safe haven from risks, was trading up 0.95 percent at $1,543.90 per ounce.
Investors continue to price in the global spread of coronavirus and its impact on oil demand. On Wednesday, the World Health Organization (WHO) declared the outbreak of the new coronavirus disease (COVID-19) a pandemic.
