Oil tumbles as new virus strain revives demand worries

Brent crude was down $2.23, or 4.3%, to $50.03 a barrel by 1308 GMT while U.S. West Texas Intermediate (WTI) crude was down $2.10, or 4.3%, to $47.00 a barrel.

LONDON: Oil prices tumbled on Monday as a fast-spreading new coronavirus strain that has shut down much of Britain and led to tighter restrictions in Europe sparked worries about a slower recovery in fuel demand.

Brent crude was down $2.23, or 4.3%, to $50.03 a barrel by 1308 GMT while U.S. West Texas Intermediate (WTI) crude was down $2.10, or 4.3%, to $47.00 a barrel.