Earlier this month, Brent and WTI crude plummeted amid the coronavirus outbreak as well as China’s attempts to curb its spread across the country and beyond.
Brent oil has sunk below $50 per barrel for the first time since December 2018, according to early trading on Friday. According to trading data, global oil prices plummeted 4 percent amid market volatility caused by fears of the coronavirus spread.
Brent was at $49.64 per barrel as of 9:37 GMT which constitutes a 4.04% drop, while WTI dropped below the $45 mark to $45.04 per barrel.
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