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Corona drops oil prices to lowest level since 2017


The expansion of the Corona Virus (Covid-19) global circulation has pushed crude oil prices down for the fifth consecutive session, approaching the lowest levels since August 2017 for Brent crude.

As of Thursday morning, there were 50 countries around the world that had detected cases of the disease on their soil, with China and South Korea leading the way.

Brent crude futures for April delivery fell 1.04%, or 55 cents, to $ 52.28 a barrel at 09:00 GMT.

Likewise, US West Texas Intermediate crude oil futures for April delivery fell 0.80%, or 37 cents, to $ 48.38 a barrel.

The number of deaths due to the spread of Corona virus in China rose to 2746 cases, while the total number of deaths around the world until Wednesday reached 2804 cases.

The mysterious virus appeared in China for the first time on December 12, 2019 in Wuhan, but Beijing officially revealed it in mid-January.

Source: aljazeera

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