(RTTN
(RTTNews) – Crude oil costs took heavy harm on Thursday, according to most different equities and commodities because the coronavirus has been declared a world pandemic.
West Texas Intermediate crude oil for April plummeted $2.13 or 6.46 p.c to $30.96 a barrel on Thursday. Within the final two periods, crude has given up greater than 12 p.c.
The commodity opened firmly decrease on Thursday and the losses picked up steam because the day progressed.
Crude fell virtually 25 p.c on Monday after the underside dropped out of the oil market when Saudi Arabia threatened to flood the market following a spat with Russia over manufacturing cuts – and the unfold of the coronavirus has solely exacerbated the state of affairs.
Including to the unfavorable sentiment, feedback from U.S. President Donald Trump rattled buyers after he introduced a journey ban from most of Europe to the USA for 30 days, intensifying fears concerning the financial fallout from the…