Oil prices tank 4.0% in coronavirus-fuelled rout

Oil prices dived four per cent on Friday to trade at their lowest levels for more than a year, as the coronavirus crisis continued to spark panic over crude demand.

In morning deals, Brent oil for April delivery sank as low as USD 50.05 per barrel, while New York's WTI crude for the same month tumbled to a trough of USD 44.95.