Oil Falling Amid Fears of The New CoronaVirus

Oil prices fell about 3% today, Monday, due to fears of a new rapidly spreading strain of the Coronavirus, which has caused the closure of most parts of Britain, which increased fears of a slowdown in the recovery of fuel demand amid tightening restrictions in Europe.

Brent crude fell $ 1.54 a barrel, equivalent to 3%, to $50.72 a barrel by, after increasing 1.5% and touching its highest levels since March on Friday.

US West Texas Intermediate crude fell $1.42 a barrel, or 2.9%, to $47.68 a barrel, after it also rose 1.5% on Friday to its highest level since February.