Oil slumps 6% as U.S. bans travel from Europe over coronavirus pandemic
Oil slumps 6% as U.S. bans travel from Europe over coronavirus pandemic 1Oil prices slumped again on Thursday amid a broader market rout after the United States banned travel from Europe following a declaration that the coronavirus outbreak is now a pandemic. The threat of a flood of cheap supply compounded market concerns as Saudi Arabia promised to raise oil output to a record high in a standoff with Russia.
News story posted on 2020-03-12T03:37:00.0000000Z