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Oil prices at 17-year lows as virus ravages world

Oil prices extend losses in Asian trade and languish at 17-year lows, with the coronavirus crisis escalating around the world and no end in sight to a vicious price war.

US benchmark West Texas Intermediate falls 5.3 percent to trade at $20 a barrel, while international benchmark Brent crude is off 6.5 percent at $23.

The falls come after the death toll from the pandemic surges past 30,000 over the weekend as cases in hard-hit Europe and the United States showed no sign of letting up.

AFP

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