Oil Prices Slump On Renewed Coronavirus Concerns

Oil Prices Slump On Renewed Coronavirus Concerns

OilPrice.com

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After several consecutive days of gains, oil prices slumped by more than 2 percent early on Tuesday, as the coronavirus continues to weigh on sentiment and Russia continues to stall an OPEC+ decision to counter the virus outbreak’s impact on oil demand and markets. At 8:59 a.m. EST on Tuesday, WTI Crude was down 2.06 percent at $50.97, while Brent Crude was plunging by 2.24 percent at $56.38. Oil prices were tracking losses in equity markets, with Dow futures down early on Tuesday, pointing to a drop of 123 points at market open, after Apple…

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