Oil Prices Plummet Over Trump’s Virus Test

oil-prices-plummet-over-trumps-virus-test

Oil prices extended losses to about 3 percent yesterday, after United States President Donald Trump said he tested positive for COV- ID-19.

 

Trump tweeted news of his pos- itive result, just hours after the White House announced that Hope Hicks, one of his aides, had come down with the virus after travelling with the president several times this week.

 

Brent crude slipped on the Trump news and was down $1.12, or 2.7 percent, at $39.81 a barrel by 0710 GMT. U.S. oil was also down $1.12, or 2.9%, at $37.60. US and Brent crude are heading for drops of around 5 percent and 6 percent, respectively, this week for a second consecutive week of declines.

 

Also, US stock futures and Asian shares fell Friday. The future con- tracts for both the S&P 500 and the Dow industrials dropped nearly 2 percent but were trading 1.2 per- cent lower several hours later.

 

 

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