Oil prices fall for fifth day to lowest in a year
Oil prices fell 2 per cent on Thursday, plunging for fifth day to their lowest since January 2019 as a rise in new coronavirus cases outside China fuelled fears of a pandemic that could slow the global economy and dent demand for crude.
Brent crude was down $1.06, or 2 per cent, at $52.37 a barrel at 1011 GMT. West Texas Intermediate (WTI) futures fell by 97 cents, or 2 per cent, to $47.76 a barrel.
For the first time since the start of the coronavirus outbreak erupted in China, the number of new coronavirus infections outside China exceeded new Chinese cases.
