Oil price falls to new 3-mth lows as virus fears grow, OPEC mulls meeting

Oil China CNP Dalian

NEW YORK: Oil prices fell more than 2% on Thursday to the lowest in three months on concerns over the potential economic impact of the coronavirus that continues to spread worldwide, while the market also considered the possibility of an early OPEC meeting.

Brent crude was down $1.52, or 2.5%, to settle at $58.29 a barrel. The global benchmark earlier dropped to $57.71, its lowest since Oct. 8.