Oil prices sank again on Thursday along with the broader market after the United States banned travel from Europe following a World Health Organization declaration that the coronavirus outbreak is now a pandemic.Market worries were compounded by the threat of a flood of cheap supply as Saudi Arabia promised to raise oil output to a record high in its stand off with Russia. Oil is down around 50% from highs reached in January. The travel ban, which excludes Britain, will hit U.S. airlines “extremely hard,” their industry association said.
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