Oil prices fell on Monday, to continue losses last week, as daily cases of the emergence of the new Corona virus increased in China, Japan and the United States, raising concerns about the possibility of the disease returning to a widespread outbreak that could harm the recovery of fuel demand.

By 0716 GMT, Brent crude futures fell $ 1.32, or 3.4 percent, to $ 37.41 a barrel. US West Texas Intermediate crude contracts fell $ 1.75, or 4.8 percent, to $ 34.51 a barrel. Financial markets in general declined today, amid reports of a new series of infections in the Chinese capital, Beijing, which quenched investor appetite for risk. The Corona virus initially appeared in the Chinese city of Wuhan at the end of last year.

source: https://alqabas.com/article/5780165