Oil selloff resumes; set for steepest weekly fall since 1991
Share:
NEW YORK (Reuters) - Oil prices fell sharply on Friday, putting U.S. crude on track for its biggest weekly percentage decline since 1991, as the spread of coronavirus slashed demand, while Moscow rejected U.S. intervention in a price war with Saudi Arabia.The selloff followed a market rebound on Thursday, when U.S. crude posted its largest one-day gain in history. U.S. crude has lost half its value in the past two weeks, and Brent has dropped about 45%, as the oil market has contended with the..