Following the March 6 trade results, the oil price has decreased at the leading London and New York oil exchanges.
Namely, the Brent oil price decreased to 45,27 (- 4,72) per barrel at the InterContinental Exchange Futures Europe in London, UK.
The Light Sweet oil price included 41,28 (- 4,62) per barrel at York Mercantile Exchange in New York, US.
As Bloomberg reports, the current ''collapse'' of the oil market is large-scale, and such a collapse was detected in 1991, with a war outbreak in the Persian Gulf.
Now the reason for the historical drop is the new coronavirus outbreak.
The Coronavirus broke out in December 2019 in China.
The first case of the Coronavirus was confirmed in Georgia on February 26.
The number of infected in Georgia reached 15.