NEW YORK: Oil prices tumbled for a fifth day on Thursday to their lowest level in more than a year, as new reports of novel coronavirus cases outside China spurred investor fears that the rapidly spreading outbreak could slow the global economy.
Brent crude dropped US$1.25, or 2.3%, to settle at $52.18 a barrel, off the session low of $50.97 a barrel, which was the lowest since December 2018. West Texas Intermediate (WTI) futures sank $1.64, or 3.4%, to $47.09, after hitting their lowest level since January 2019.
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