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Oil prices plunge, hit by erupting Saudi-Russia oil price war

Oil prices suffered their biggest daily rout since the 1991 Gulf War on Monday as top producers Saudi Arabia and Russia began a price war that threatens to overwhelm global oil markets with supply.A 20% slump in oil prices triggered another day of heavy losses on Wall Street’s main stock indexes as the rapid spread of coronavirus amplified fears of a global recession. [MKTS/GLOB]

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