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Oil continues to slump amid financial market panic

Rapid spread of Covid-19 and an oil price war between Saudi Arabia and Russia has seen prices add to their more than 20% declines from last week

More pain: oil prices continue to slump as financial markets continue to be rocked by the rapid spread of Covid-19
More pain: oil prices continue to slump as financial markets continue to be rocked by the rapid spread of Covid-19Photo: REUTERS/SCANPIX
  • Reuters
US Federal ReserveUSASaudi ArabiaMichael McCarthyCMC Markets
Published 16 March 2020, 01:43Updated 16 March 2020, 01:43