LIVE CRUDE OIL NEWS UPDATED BY WWW.OCTAMX.COM (9557753468 , 9756212123)

Crude prices fell more than 2% to multi-month lows on Monday as the rising number of cases of the new coronavirus in China and city lockdowns there deepened concerns over oil demand, even as Saudi Arabia’s energy minister sought to calm the market. Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman Al-Saud said on Monday he was watching developments in China and said he felt confident the new virus would be contained.Oil is unlikely to find many buyers “until signs of concrete progress have been made on the control … of the coronavirus,” said Jeffrey Halley, senior market analyst at OANDA.

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