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On Monday, as fears of the virus spread and as more countries are instituting shutdowns, demand for travel and industry activity contracted leading to falls in Brent crude. Also, demand destruction is being effected as the oil market deals with a price war between Saudi Arabia and Russia.

As Virus Shutdowns Expand, Oil Price and Demand Fall

On Monday, as fears of the virus spread and as more countries are instituting shutdowns, demand for travel and industry activity contracted leading to falls in Brent crude. Also, demand destruction is being effected as the oil market deals with a price war between Saudi Arabia and Russia.

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