2/21, 12:00 PM (Source: TeleTrader)
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Crude trades with losses as coronavirus rages on

Prices of oil futures were down over 1% on Friday as fears over the spread of coronavirus continued, exacerbated by the latest news from South Korea, where a so-called "superspreader" passed on the virus to at least 37 people at a church in Daegu, the country's fourth-largest city. The disease also took a foothold in Iran, where 13 new cases were reported, after two people already died.

Globally, confirmed infections stood above 76,000 as the death toll surpassed 2,200.

Brent futures for April delivery fell 1.50% to $58.42 a barrel at 5:49 am ET as West Texas Intermediate for settlements in the same month dropped 1.47% to $53.09 per barrel.

Breaking the News / NI