Oil prices fall, set for biggest weekly drop since 2008

Financial Post | Feb 28, 2020 at 4:37 PM
  • Oil prices slumped on Friday to their lowest in more than a year, set for their steepest weekly fall since 2008 as the global spread of the coronavirus stokes demand fears.
  • Brent futures for April delivery, meanwhile, fell $1.98, or 3.8%, to $50.20 a barrel, while U.S. West Texas Intermediate (WTI) crude fell $3.09, or 6.6%, to $44.00.
  • Mainland China reported 327 new cases, the lowest since Jan. 23, taking its tally to more than 78,800 cases and almost 2,800 deaths.