Crude Oil declined in price for a sixth consecutive session on Friday. On a weekly watch, it has slipped 12 percent which is seen as the highest fall for over four years, as the pandemic on corona-virus concern outside China raised worries of slowing global demand.
Global-Crude oil prices plunged by more than 4-percent on Thursday, 27-February, as traders feared the impact of the same. The virus, which has reportedly killed over 2700 people in China, has been found its effects in another 46 countries and caused 57 deaths.
The Brent crude contract for the month May was down 1.7 percent, at USD50.83/bl, as a 14-month-low. The international benchmark, which declined about 2 percent yesterday, has slipped about 12-pc this week.Avail Share trading news from our experts.
The WTI crude futures declined 1.6-pc to USD56.36/bl and US crude has dropped about 13-pc week, the biggest weekly fall since Nov 2014.