Oil prices extend losses on price war, virus fallout
The Opec price war with Russia and the Covid-19 pandemic are pushing oil prices down. – EPA pic, March 16, 2020.
OIL prices today extended the gloom after a Saudi-Russian price war and an equities meltdown sparked by the coronavirus pandemic saw their biggest weekly losses in more than a decade. US benchmark West Texas Intermediate briefly fell below US$30 a barrel, or 5.5%, in morning Asian trade before regaining its footing.
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