Oil prices slump as virus-related demand concerns resurface

Oil prices tumbled more than $3 a barrel on Thursday, fuelled by renewed concerns about demand destruction as new cases of coronavirus tick up globally, while crude inventories hit a record in the United States.The U.S. Federal Reserve has expressed concern that this will continue, limiting demand."The market is pricing in the possibility that we'll have to slow down a little and that won't bode well for energy demand going forward," said Phil Flynn, senior analyst at Price Futures Group in Chic