Reuters: Oil slips on oversupply fears, but stocks jump on virus slowdown hopes

09:55, 06 April 2020
Economy
210 0
REUTERS

Brent crude fell as much as $4 after Saudi Arabia and Russia postponed their meeting, initially scheduled for Monday, to Thursday even as the virus pandemic pummels demand, Reuters said.

Read alsoUkraine boosts gas imports by almost 80% in Jan-March

Equity investors, however, took solace as the death toll from the coronavirus slowed across major European nations including France and Italy.

In commodities, Brent crude futures was down nearly 3%, or $1, at $31.14 a barrel while U.S. crude slipped 4.4%, or $1.24, to $27.09.

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