Covid-19 unleashes major market crisis

Lower economic activity worldwide, derived from the Covid-19 virus, unleashed a major market crisis today (March 9).

Oil prices plummeted on a double supply/demand hit. Forecasts of a sharply lower need for oil due to cancelled leisure and business travel were compounded over the weekend by announcements of greater supply from major producers Russia and Saudi Arabia.

The break-up of the alliance that had contained production and supported oil prices since 2016 triggered the largest daily fall

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