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Brent crude sinks below $30 a barrel as coronavirus pandemic hits growth

Brent crude futures for May delivery fell 56 cents to $29.49 a barrel, or 1.9 percent, at 13:35 EST (1135 GMT)

Brent crude | Brent crude oil | Coronavirus

Reuters  |  New York 

Crude oil prices settled below $30 a barrel on Tuesday as the coronavirus pandemic slowed economic growth and oil demand while Saudi Arabia and Russia kept up their battle for market share. Countries including the United States and Canada, along with nations in Europe and Asia, are taking unprecedented steps to contain the virus, which has killed 7,500 people. Numerous governments have told residents to restrict their movements while businesses shutter, curbing demand for fuels. Brent crude futures fell $1.32 to settle at $28.73, the first time that benchmark has settled below ...

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First Published: Wed, March 18 2020. 00:47 IST