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3/25, 1:02 PM (Source: TeleTrader)
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Crude surrenders gains as COVID-19 fears persist

Prices of crude turned to losses on Wednesday as the coronavirus pandemic continued to raise concerns globally.

Spain surpassed China in total coronavirus deaths with 738 new fatalities registered nationwide. Meanwhile, Iranian President Hassan Rouhani announced restrictions on the movement of people between the cities as the country marked its sharpest daily growth in new infections.

West Texas Intermediate for May delivery slipped 1.71% at 7:40 am ET to sell for $23.60 per barrel while Brent for the same month's settlements plunged 3.20% a minute later to go for $26.28 per barrel.

Breaking the News / GA