Shortly after the U.S President, Donald Trump announced that he has tested positive for Covid-19, oil price losses extended by almost 3 percent.
This development is coming one month before the country’s presidential election
In the early hours of Friday, the President confirmed that he and the first lady, Melania Trump, had been diagnosed with coronavirus.
The diagnosis puts him on the list of World leaders and high profile politicians to have contracted the virus.
Brent crude slipped on the Trump news and was down $1.12, or 2.7 percent, at $39.81 a barrel by 0710 GMT.
U.S. oil was also down $1.12, or 2.9%, at $37.60. US and Brent crude is heading for drops of around 5 percent and 6 percent, respectively, this week for a second consecutive week of declines.
In the same vein, US stock futures and Asian shares fell Friday. The future contracts for both the S&P 500 and the Dow industrials dropped nearly 2 percent but were trading 1.2 percent lower several hours later
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