Oil continues to slide, Brent drops 5% on coronavirus fears

Oil prices plunged on Monday, on the growing fears over the coronavirus spread in a number of countries.

The Chinese government announced that the number of injuries rose to about eighty thousand, and dozens of injuries appeared in South Korea and Italy.

China revealed today that coronavirus has infected about 80,000 cases,  and tens of infected cases and deaths occurred in Italy and South Korea.

Iran also revealed that the virus has claimed almost 50 people, which is the second largest coronavirus death toll after China.

The dollar index fell 0.1% to trade at 99.1 points as of 18:36 GMT, after it hit an intraday high of 99.6 a low of 99.1.

As of 18:33 GMT, WTI crude fell by 4.8% to $50.8 a barrel, with a high of $52.6 and a low of $50.4.

Brent lost 5% to $55.6 a barrel, a high of $57.8 and a low of $55.1.