Oil heads for steep weekly slide after coronavirus turmoil - Reuters:
Oil prices rose on Friday but headed for their third weekly loss as production shutdowns failed to keep pace with sliding demand due to the coronavirus crisis.
Brent crude LCOc1 was up 58 cents, or 2.72%, at $21.91 at 1215 GMT, having risen 5% on Thursday, and U.S. oil CLc1 rose 51 cents, or 3.09%, to $17.01 a barrel, after rising 20% the day before. Both contracts traded within a range of around $2 a barrel.
Prices are heading for their eighth weekly loss in the last nine, with Brent on course for a 22% drop this week and U.S. West Texas Intermediate (WTI) set for a fall of more than 6%.
WTI fell into negative territory, to minus $37.63 a barrel on Monday, while Brent dropped to a two-decade low.
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