10 Mar 2020

Covid-19: World oil prices drop sharply

From Morning Report, 8:16 am on 10 March 2020

Markets around the world suffered dramatic losses on Monday as a new oil war sparked by the Covid-19 outbreak sent crude prices plummeting.

Just after markets opened, crude prices briefly dropped as much as 30 percent before gaining back some ground - the biggest fall since the Gulf War in 1991.

International benchmark Brent Crude reached $32 a barrel.

 Z Energy chief executive Mike Bennett speaks to Susie Ferguson.