Oil Price Dives 5% On Virus-driven Demand Fears

Umer Jamshaid Published October 29, 2020 | 06:54 PM

Oil price dives 5% on virus-driven demand fears

World oil prices deepened losses on Thursday to lose five percent in value, on fears that new coronavirus lockdowns will further decimate demand for crude

London, (UrduPoint / Pakistan Point News - 29th Oct, 2020 ) :World oil prices deepened losses on Thursday to lose five percent in value, on fears that new coronavirus lockdowns will further decimate demand for crude.

At 1220 GMT, New York's main contract, West Texas Intermediate crude for delivery in December, tumbled 5.1 percent to $35.47 per barrel.

London's Brent North Sea crude for the same month was down 5.0 percent at $37.16.

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