Oil prices fall on oversupply worries as virus hits China demand
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SINGAPORE (Reuters) - Oil prices on Monday extended their decline from an early January peak above $70 as the spectre of excess supplies loomed over the market after the spreading coronavirus outbreak hit demand in China, the world's largest oil importer. Brent crude hit a low of $53.63 a barrel and was at $54.09 by 0100 GMT, down 38 cents. U.S. West Texas Intermediate fell 38 cents to $49.94 a barrel after striking a low of $49.56. Worries over supply were not alleviated on Friday when Russia..