Oil prices stabilise after ‘Black Friday’ plunge

Oil prices steadied on Monday after plunging nearly 8 percent in the previous session, but remain under pressure with Brent crude below $60 per barrel amid weak fundamentals and struggling financial markets. Front-month Brent crude oil futures were at $59.23 per barrel at 0202 GMT, up 43 cents, or 0.7 percent, from their last close.

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