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Oil Rises as WHO Declares Emergency, But Opposes Travel Restrictions


Friday, 31 January 2020 18:03 WIB

Minyak WTIbrent oilOil,Crude Oil


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Oil prices rose on Friday but were still set for a fourth consecutive weekly loss, as markets attempted to assess the  economic damage of the coronavirus that has spread from China to around 20 countries, killing more than 200 people.

Brent crude was 31 cents higher at $58.60 a barrel by 0943 GMT but was still down 3.4% on the week.

U.S. West Texas Intermediate (WTI) rose by 34 cents to $52.48 a barrel. It is 3.2% lower on the week.

Both benchmarks rose by more than $1 earlier in the session.

The WHO said late Thursday that the coronavirus outbreak was a global emergency, but calmed the markets by opposing travel restrictions. It said Chinese actions so far will “reverse the tide” of its spread.

Source : Reuters


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