Significant decline in oil prices in the global market.

SOURCE: GOOGLE

Significant decline in oil prices in the global market.

The spread of the Coronavirus has led to a significant drop in crude oil prices in the global market.

American Crude Oil recorded a significant decline of 9.27% ​​and London Brent Oil 12%.

US crude oil fell $ 2.95 to $ 28.79 a barrel. London Brent oil fell $ 4.05 to $ 29.80 a barrel. London's Brent Crowd has dropped below the 4-year low of $30 a barrel. Experts say that the demand for oil has dropped significantly due to the lockdown of various countries and the closure of air travel after the virus has spread. The virus also reduced travel to people. It is important to note that there are restrictions on air travel to various countries including China, USA, UK, Canada, and Saudi Arabia.

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Source: SAMAA TV