Russia and Saudi Arabia start an oil price war as global markets take a dive

March 09, 2020

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Several large, silver oil tanks are shown amid a sandy field with blue sky.

A view shows several oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia.

Credit:

Maxim Shemetov/Reuters/File Photo

Russia and Saudi Arabia have started an oil price war by pushing down prices amid a growing coronavirus outbreak, spooking financial markets worldwide. And, there has been chaos at the border fence between Greece and Turkey, with migrants and refugees trying to cross into Greece as police and security forces respond with tear gas and water cannons. Also, a conservator cleaning a painting of David and Goliath discovered that the artwork, long attributed to a male Baroque painter, is actually the work of Artemisia Gentileschi.

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Global markets are struggling to deal with the continued spread of COVID-19, and a cut to export oil prices adds another level of uncertainty. Meanwhile, northern Italy is on lockdown and schools have closed nationwide. Students rejoice, but parents worry. And, Afghanistan's President Ashraf Ghani's inauguration was disrupted by blasts Monday, and rival Abdullah Abdullah held his own swearing in ceremony. Also, the crisis at the Greece-Turkey border continues to unfold. The World is following it on the ground in Greece.

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