Oil Tumbles on Virus Fear While Saudis See ‘Very Limited’ Impact

(Bloomberg) — Oil tumbled as the market opened in Asia on fears China’s deadly coronavirus will crimp energy demand, prompting Saudi Arabia to say it was closely monitoring the situation.Futures in London and New York plunged more than 3% in early trading as the death toll from the outbreak in China rose and as officials extended the Lunar New Year holiday to help stem the spread of the outbreak. While Goldman Sachs Group Inc. predicted last week that global oil demand may take a hit, Saudi Arabia said it believes the crisis so far will have a “very limited impact” …read more

Source:: Yahoo Finance