Oil prices fell to their lowest in seven weeks on Thursday on concerns that the ...
FILE PHOTO: Oil pump jacks work at sunset near Midland, Texas, U.S., August 21, 2019. REUTERS/Jessica Lutz
The so-called novel coronavirus has killed 17 people because of respiratory illness since it emerged late last year in the Chinese city of Wuhan. The potential for a pandemic has stirred memories of the Sudden Acute Respiratory Syndrome epidemic in 2002-2003, which also started in China, and dented economic growth and led to a slump in travel.
U.S. West Texas Intermediate futures CLc1 fell 95 cents, or 1.7%, to $55.78 a barrel after earlier falling to the lowest since Dec. 3. The contract declined 2.7% on Wednesday.
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