 "oil, oil prices, brent crude, oil crisis, currency depreciation, iran oil crisis, global oil, oil firms, economy")
The onset of the Coronavirus had pushed crude oil prices in a bear phase this year. Typically, a bear market is defined as a fall of 20 per cent or more from the high. The WTI Crude fell from a high of $65.65 a barrel in January fell to a low of $49.31 on February 4, translating into a fall of 24.88 per cent.
Crude oil prices declined as global investors and traders weighed the effects of spreading coronavirus, which has dampened demand for oil from China, world's second top consumer. As per Bloomberg estimates, China's crude oil demand is
