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LONDON (Reuters) - Brent fell by 10% on Monday, and US crude to below $30, as emergency rate cuts by the US Federal Reserve and its global counterparts failed to tame markets and China's factory output plunged at the sharpest pace in 30 years amid the spread of coronavirus.
KUALA LUMPUR: Concerns on crude oil oversupply, which led the West Texas Intermediate (WTI) crude to breach below the key US$50 a barrel mark, has prompted selling momentum in currencies of emerging economies linked to crude exports, including the ringgit.
TOKYO: Oil prices rose on Thursday, rebounding from earlier losses, after the U.S. confirmed that talks with China to reach a trade agreement would be held in the coming weeks, giving hope that a dispute that has roiled global economies will be resolved.
NEW YORK: Oil prices rose more than 2% on Friday after Iranian media said a state-owned oil tanker was attacked in the Red Sea near Saudi Arabia, while optimism surrounding the U.S.-China trade war lifted sentiment.
NEW YORK:Oil prices pared losses on Friday, after earlier falling more than 1% following comments from U.S. President Donald Trump that he has not agreed to roll back tariffs on China
NEW YORK: Oil prices were up slightly on Thursday after the U.S. government reported a much smaller-than-anticipated rise in crude stocks, but gains were capped by worries about the spread of Coronavirus outside China
NEW YORK:Oil prices slumped for a sixth day in a row on Friday to their lowest in more than a year, causing futures to drop by the most in a week since 2016, as the spread of coronavirus stoked fears that a slowing global economy would hit energy demand.
NEW YORK: Global oil benchmark Brent futures fell more than 3% on Monday on global growth concerns after U.S. President Donald Trump last week threatened China with more tariffs, which could limit crude demand from the world's two biggest buyers.
NEW YORK: Oil prices on Tuesday jumped by the most so far this year after the United States said it would delay imposing a 10% tariff on certain Chinese products, easing concerns over a global trade war that has pummeled the market in recent months.
NEW YORK: Oil prices fell more than 2% on Wednesday after official data showed a rise in U.S. crude inventories, adding to worries about an oversupplied market as weak economic readings in the United States depressed global financial markets