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Oil prices fall as panic surrounds financial market amidst coronavirus outbreak
March 16, 2020
Source: Reuters

Oil prices fall as panic surrounds financial market amidst coronavirus outbreak

Oil prices fell in the international market on Monday, as markets continue to panic amidst the coronavirus outbreak and a price war between Saudi Arabia and Russia. Brent crude dipped $1.13 to $32.72 a barrel. US WTI crude slipped 72 cents, to $31.01 a barrel. An attempt to ease tension in financial markets came from the U.S. Fed which reduced interest rates yesterday in its second emergency cut this month.

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