Coronavirus hysteria in world goes on, knocking down prices in market

10:26 - 13.03.2020


March 13, Fineko/abc.az. Panic from the fear of a runny nose and cough closes cities and countries and brings down stock markets.

US stock indices Dow Jones Industrial Average and Standard & Poor's 500 fell more than by 9.5% at the end of trading on Thursday. This is the record fall since October 19, 1987. As a result, all three major indices, including Nasdaq Composite, fell more than 20% from their recent peak levels.

Benchmark oil prices are rising today after a prolonged fall on the hysteria around ARVI and the breakdown of OPEC+ deals.

At the end of trading on 12 March at the London exchange ICE Futures, May’s futures for Brent oil fell in price by $2.57 (7.18%) to $33.22 per barrel.

By 9:30 am, Brent futures for May grew by $0.61 (1.84%) up to $33.83 per barrel.

At the end of trading on March 12 at the New York Mercantile Exchange (NYMEX), April’s WTI oil futures fell in price by $1.48 (4.49%) to $31.50 per barrel.

By 9:30 am, WTI futures for April rose by $0.77 (2.44%) up to $32.27 per barrel.

The price of Azeri Light oil declined by $3.69 (10.2%) to $32.35 per barrel.

 

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