Israel's military campaign against Hamas has reduced much of the territory of 2.3 million people to a wasteland with most civilians homeless
US crude was down $1.74, or 5.3 per cent, at $31.24 after dropping 4 per cent, in the previous session.
Oil is down around 50 per cent, from highs reached in January.
Global shares also crumbled after US President Donald Trump said the United States will suspend all travel from Europe as he unveiled measures to contain the coronavirus epidemic.
The travel ban, which excludes Britain, will hit US airlines "extremely hard," their industry association said.
The surprise move is likely to mean a further drop in demand for jet and other fuels in an already battered oil market though, for now, just how much is hard to quantify.
"A WHO declaration of global emergency and US-EU traffic ban is dampening the global energy demand outlook, in conjunction with an intensified price war between Saudi and Russia," said Margaret Yang, market analyst at CMC Markets in Singapore.
"Bears are dominating the oil market and there might be more downside before a bottom can be reached," she added.
The U.S. Energy Information Administration (EIA) and the Organization of the Petroleum Exporting Countries (OPEC) h
US crude was down $1.74, or 5.3 per cent, at $31.24 after dropping 4 per cent, in the previous session.
Oil is down around 50 per cent, from highs reached in January.
Global shares also crumbled after US President Donald Trump said the United States will suspend all travel from Europe as he unveiled measures to contain the coronavirus epidemic.
The travel ban, which excludes Britain, will hit US airlines "extremely hard," their industry association said.
The surprise move is likely to mean a further drop in demand for jet and other fuels in an already battered oil market though, for now, just how much is hard to quantify.
"A WHO declaration of global emergency and US-EU traffic ban is dampening the global energy demand outlook, in conjunction with an intensified price war between Saudi and Russia," said Margaret Yang, market analyst at CMC Markets in Singapore.
"Bears are dominating the oil market and there might be more downside before a bottom can be reached," she added.
The US Energy Information Administration (EIA) and the Organization of the Petroleum Exporting Countries (OPEC) have slashed forecasts for oil demand because of the coronavirus outbreak and now expect demand to contract this quarter.
Israel's military campaign against Hamas has reduced much of the territory of 2.3 million people to a wasteland with most civilians homeless
The event caters to diverse interests, including medicine and emerging career paths
Organised by Ameeraga Tamil Sangam, the event had participants from across the UAE
The esteemed initiative delivered essential grocery food baskets to around 5,000 deserving families across 14 Bangladeshi districts
Judges for the AI awards not only recognise excellence and innovation, but also assess performance and monitor progress in artificial intelligence computing and responses
A plea moved in court stated that no one is permitted to wear the official state institution outfit
Bayer Leverkusen boss Xabi Alonso had been the favourite to succeed Klopp but has now committed himself to the German club after leading them to a first-ever Bundesliga title
Sheikh Hamdan joined the kids as they browsed through some photos that captured how they used broomsticks and helped their community