Global oil market still reeling from Covid-19

TheStar Wed, Feb 26, 2020 07:50am - 4 years View Original


Gold prices soared to a seven-year high: a clear indication that investors are looking for safe-haven assets.

PETALING JAYA: The global oil market continues to reel from the slowing economic activity caused by the coronavirus (Covid-19) outbreak.

Over the last five days, the Brent crude oil fell almost 6% to US$56 a barrel.

Investors were wary about the prolonged situation that could be a drag on economic growth.

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