⁍ Oil prices fell 3% on Friday after U.S. President Donald Trump tested positive for COVID-19.

---

⁍ Rising global crude output threatens to overwhelm the market’s weak recovery.

---

⁍ The uncertainty surrounding the U.S. president’s health added to a series of jitters.

---

– The stock market took a beating Friday morning, with the Dow falling more than 500 points, or 2.3%, in the first minutes of trading after President Trump announced that he and Melania Trump had tested positive for the H1N1 virus. The S&P 500 and Nasdaq also fell by more than 2%. “It’s been a rough week—and now the president’s diagnosis sends a shudder through markets,” John Kilduff, partner at Again Capital in New York, tells Reuters. “The COVID-19 pandemic has weighed more on the oil market than any other asset class. This is a worst-case scenario for the oil market.”