BUSINESS

OIL PRICES SKID

Oil costs dropped around three percent on Monday as a quick spreading new Covid strain that has closed down a significant part of the United Kingdom fuelled stresses over a more slow recuperation in fuel interest in the midst of more tight limitations in Europe.

Brent unrefined slid $1.54, or three percent, to $50.72 a barrel by 0510 GMT in the wake of rising 1.5pc and contacting its most noteworthy since March last Friday.

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US West Texas Intermediate (WTI) unrefined was down $1.42, or 2.9pc, to $47.68 a barrel after additionally climbing 1.5pc on Friday to its most elevated level since February.

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