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World oil prices fall sharply amid the spread of coronavirus

UNITED STATES (OBSERVATORY NEWS) — World oil prices continue to fall, investors fear that the spread of coronavirus will have a significant negative impact on the growth rate of the global economy.

May futures for Brent oil fell on the London Stock Exchange ICE Futures by $ 1.41 (- 2.73%) to $ 50.32 per barrel. The day before, the price fell by $ 1.08 (- 2.05%) to $ 51.73 per barrel. At the same time, April futures fell to $ 52.18 per barrel.

April WTI futures fell $ 1.39 (-2.95%) at $ 45.7 per barrel on the New York Mercantile Exchange (NYMEX). On the eve of the price fell by $ 1.64 (-3.37%) to $ 47.09 per barrel.

Oil is getting cheaper for five days in a row, prices have fallen by 13-14%, this is the maximum decline since 2011.

The cost of the March oil contracts on the Shanghai International Energy Exchange (INE) fell on Friday by 2.2% to 360.5 yuan per barrel. Since the beginning of the week, prices have fallen by 13%

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