Oil falls more than 5% after Trump surprises with travel ban

Oil prices fell more than 5% on Thursday after US President Donald Trump unexpectedly announced restrictions on travel from Europe, in an attempt to halt the spread of coronavirus after the World Health Organization described the outbreak as a pandemic.
The slump in oil is being compounded by the threat of a flood of cheap supply after Saudi Arabia and the United Arab Emirates said they would raise output in a standoff with Russia.
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