Oil prices fall sharply as key meeting delayed

Oil prices fell sharply Monday after a meeting to discuss output cuts between OPEC and its allies was delayed, dimming hopes of swift action to support coronavirus-ravaged energy markets

US benchmark West Texas Intermediate was down 7.8 per cent at the open in Asia, trading at USD 26.11 per barrel. International benchmark Brent fell 6.2 per cent to trade at USD 31.98 per barrel.

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