Brent logs worst weekly loss in a year as China virus fears swell - Reuters

Brent logs worst weekly loss in a year as China virus fears swell - Reuters:

Crude prices sank more than 2% on Friday and Brent logged its biggest weekly decline in more than a year as concerns that a coronavirus will spread farther in China, the world’s second-largest oil consumer, curbing travel and oil demand.

The virus that has killed 26 people and infected more than 800 has prompted the suspension of public transport in 10 Chinese cities, while cases of infection have been found in several other Asian countries, France and the United States.

Brent crude LCOc1 settled at $60.69 a barrel, down $1.35, or 2.2%. The global benchmark fell 6.4% this week, its biggest weekly loss since Dec. 21, 2018.

U.S. crude futures CLc1 ended at $54.19 a barrel, shedding $1.4, or 2.5% on Friday and clocking a 7.4% weekly decline, their largest since July 19.