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Oil prices sink as Trump’s COVID diagnosis rocks global markets

October 2, 2020

Via: Fortune

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.

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