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Oil falls nearly 5% for biggest weekly drop since 2008


Saturday, 29 February 2020 02:53 WIB

Minyak WTIMinyak MentahMinyak Brent


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U.S. oil prices experienced their steepest weekly fall since 2008 as the spread of the coronavirus stokes fears of slowing global demand.

Investors are increasingly worried as the virus has spread beyond its epicenter in China to more than 40 other countries.

West Texas Intermediate crude settled down 4.9%, to $44.76 per barrel. U.S. crude has fallen about 16% for the week, the biggest weekly decline since December 2008.

The most active Brent crude contract for May was down 3.2%, at $50.749 a barrel, a 14-month low. The front-month April contract expires later on Friday.

Source : Reuters


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