Amid the market turmoil, oil prices sank Friday morning during European trade, as President Trump’s positive test for COVID-19 weighed on investors at a time when crude prices are already struggling with excess supply.
While equities stabilized somewhat, crude fell, and kept falling.
Mid-morning on Friday, London time, both the Brent and WTI contracts were down about 3%, with the global benchmark, Brent, dipping below $40, at $39.77/barrel. Both contracts are down more than 30% since the start of the year.
