Oil Opens Lower As U.S.-China Spat Grows

After posting the first weekly gain in a month, oil prices plunged early on Monday as tensions between the United States and China grew over the origin of the coronavirus, which is battering oil demand and increasing the global oil glut. At 9:23 a.m. EDT on Monday, WTI Crude was down 3.24 percent at $19.16, and Brent Crude prices were down 1.93 percent on the day, to $25.91. During the weekend, U.S. Secretary of State Mike Pompeo told ABC News’ ‘This Week’ program that “there’s enormous…