Oil falls to new three-month lows as virus fears grow, OPEC mulls meeting - Reuters

Oil falls to new three-month lows as virus fears grow, OPEC mulls meeting - Reuters:

Oil prices fell more than 2% on Thursday to the lowest in three months on concerns over the potential economic impact of the coronavirus that continues to spread worldwide, while the market also considered the possibility of an early OPEC meeting. 

Brent crude LCOc1 was down $1.52, or 2.5%, to settle at $58.29 a barrel. The global benchmark earlier dropped to $57.71, its lowest since Oct. 8.

U.S. crude CLc1 fell $1.19, or 2.2%, to settle at $52.14 a barrel, after hitting a session low at $51.66 a barrel, its weakest since Oct. 10.

Prices have steadied in recent days at three-month lows as investors tried to assess what economic damage the virus might inflict and its impact on demand for crude oil and its products.