DJIA39807.37
LIVE47.29(0.12%)
NDX18254.69
LIVE-26.15(-0.14%)

Oil falls as coronavirus hits Chinese crude demand


Monday, 3 February 2020 19:44 WIB

Minyak WTI


Oil prices fell on Monday to their lowest in more than a year, dragged down by worries about lower demand in top crude importer China after a new coronavirus outbreak spread from there to around 20 other countries.

Brent crude was at $56.26 a barrel by 0926 GMT, down 36 cents. Prices dropped by more than a $1 earlier in the session to $55.42, the lowest since January 2019.

U.S. West Texas Intermediate (WTI) crude fell 5 cents to $51.51 a barrel, after earlier hitting a session low of $50.42, the lowest since January 2019.

On the first day of trade in China after the New Year holiday, investors erased $393 billion from China's benchmark stock index on Monday, sold the yuan and dumped commodities as fears about the virus dominated the markets.

Iranian Oil Minister Bijan Zanganeh said the spread of the coronavirus had hit oil demand and called for an effort to stabilize oil prices.

Source: reuters


RELATED NEWS

  • US crude futures post their ninth straight session of price increases, ending up 1% at $87.54 a barrel, which is the highest closing price since Nov. 11, 2022. Analysts attribute the gains to announc...

POPULAR NEWS

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.