Oil closed Friday at lower prices since October with the market disrupted on the effect on demand for the deadly coronavirus that spreads in China.
In London the barrel of Brent for delivery in March fell 2.2% to $ 60.69 while in New York the barrel of WTI, also for March, fell 2.5% and closed at $ 54.19.
In the week both types of crude oil lost: Brent yielded 6.4% and WTI 7.4%.
“China continues to dominate short-term exchanges,” said Robbie Fraser of Schneider Electric after stressing that the country is the world’s largest importer of crude oil.
Pekin has tried to stop the spread of that virus that has claimed the lives of 26 people until Friday. Some 40 million people are confined in the province of Hubei, which is the epicenter of the spread. Numerous Chinese New Year celebrations have been canceled.
In France, two cases were confirmed and a second patient was diagnosed with this disease in the United States.
The market is concerned about the restrictions on displacements imposed in China which will slow down fuel consumption and slow down all economic activity.
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