BRENT OIL 24.89usd, -1.46 ,-5.54%
Oil prices are near their lowest price since 2002 and this is due to the pandemic that spread worldwide infecting over 850 000 people and killed over 42 000 people. The spread of the pandemic right now has caused city lockdowns worldwide, therefore, cutting down the demand of oil even way more and this is causing the prices of oil to trade on the low. To add on that the oil prices today are trading on low of 24.89usd and this was after the Purchasing Managers Index surveys of Asia announced that the factory activity declined drastically in the month of March due to the coronavirus.