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Oil Prices Mixed as Traders Monitor Coronavirus Situation


Monday, 3 February 2020 13:18 WIB

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Oil prices were mixed on Monday in Asia as traders continued to monitor the coronavirus situation in China.

U.S. Crude Oil WTI Futures inched up 0.1% to $51.59 by 1:55 AM ET (03:55 GMT). International Brent Oil Futures were down 0.5% to $56.34.

Brent posted a monthly loss of just over 14% for January, its biggest slide since November 2018, when it lost 22%. WTI fell nearly 16% on the month, its worst since May.

The losses came amid fears about lowered demand from top buyer China, which was crippled by the coronavirus crisis. The death toll from the new coronavirus rose to 361 in China on Monday while confirmed cases increased to 17,205, according to data released by Chinese authorities.

Source : Investing.com


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