International Diplomat Magazine

Oil prices fall to record low


Oil prices fell to a record low as the coronavirus continued to affect markets across the globe on Wednesday.

The WTI oil slumped by 12% on Wednesday as Brent prices also fell below 6%.

WTI oil was priced at under $24 per barrel, as the coronavirus slashes global demand for crude.

WTI slid to $23.60 per barrel, while Brent North Sea oil touched a 2003 trough at $26.65 a barrel.

The new coronavirus has infected more than 200,000 globally since the beginning of the outbreak in December, according to any AFP tally Wednesday.

Nearly 200,680 people around the world have been infected, with more than 8,000 deaths, as of 1300 GMT Wednesday.

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