Passengers facing cancelled flights and lockdowns are having trouble receiving refunds as airlines burn through cash.
Chong Pooi Koon
After a record surge on Thursday, crude prices fall in early Asian trade then rebound on hopes of an output cut deal.
Oil prices surge after US President Trump spurred hopes on Saudi-Russia deal.
As infections continue to rise globally, investors say more economic pain and market volatility may lie ahead.
China’s factory activity rebounded sharply in March as the country returned to work following virus-induced shutdowns.
Share markets in Asia and Europe, and oil prices resume falls after latest warnings of virus’s spread.
Analysts warn economic headwinds lie ahead as coronavirus continues to spread worldwide, keeping oil prices depressed.
Singapore’s economy shrank the most in a decade in the first three months of 2020, data show.
But analysts say downward trend in share prices likely to continue as coronavirus batters global economy.
Some airlines may need rescuing by their governments as planes are grounded, analysts say.