The most active Brent crude contract for May was down $1.74, or 3.3 percent, at $49.99 a barrel, its lowest since July 2017. West Texas Intermediate (WTI) futures sank $one.64, or three.four%, to $47.09, right after hitting their most affordable since January 2019.
Though the number of diagnoses in China has been steadily declining, but for the first time on Wednesday, the number of new diagnoses outside of China surpassed that within China's borders, scaring health officials and traders, and raising questions about how the containment measures now in place, and whether more drastic measures may be needed.
Spread of the coronavirus darkened the outlook for world growth with infections and deaths rising outside China in countries such as South Korea, Italy, Iran, Canada and the US. But few industries have been hit harder than the oil market. According to CNBC, China - ground zero for the coronavirus outbreak - is the largest consumer of crude oil in the world. OPEC+ will meet in the Austrian capital Vienna on March 5-6 to discuss their strategy to balance prices and the possibility of further cuts.
Brent crude futures tumbled 2.34% to $52.18 a barrel.
Gasoline stockpiles dropped by 2.7 million barrels in the week to February 21 to 256.4 million, the Energy Information Administration (EIA) said on Wednesday, amid a decline in refinery throughput.
Organizations in China have began to reopen as the variety of new instances on the mainland has waned.
He also said the spread of the virus in the United States was not "inevitable" and then went on to say: "It probably will, it possibly will". This offers a great opportunity for Indian refiners as certain grades of African and Latin American crude oil are available at deep discounts.
Global equities resumed their plunge, wiping out additional than $three trillion in value this week alone.
In crops, palm oil had its worst week in 11 years in Malaysia.Chicago wheat futures are headed for the worst weekly loss since March. The two spreads strike the widest levels given that January 2019, signaling erosion in need could guide to a glut as a result of the finish of this 12 months.
In terms of the proportion of China's trade in the calendar year 2019, CRISIL said in its report that China accounts for 25-30% for crude oil across globally and added that the virus outbreak is expected to keep the demand and freight rates low in the short term as fall in imports from China is expected.
One of the first mini-moons to be discovered by researchers was 2006 RH120 , which circled the planet for 18 months. A asteroid has got caught in the Earth's orbit making it a natural satellite of our planet, similar to our moon .
X-Factor and The Voice star Olly Murs has taken to Instagram to show off his incredible body transformation after only one month. Last year Olly was in recovery after undergoing a "serious" knee operation in June.
He has been one of our better players this year, in my opinion, and done very well, so it's bad news for all of us". More than 78,000 cases of the respiratory disease have been recorded including three cases in Africa so far.
Love Is Blind is Netflix's latest original reality show that has social media going crazy with its insane premise and plot twists. Connecting only on an emotional level, the new couples then have to become engaged in order to actually meet face-to-face.
Despite the new case, health officials are reminding Torontonians that their chances of contracting the virus remain low . She had presented herself at Sunnybrook Health Sciences Centre's emergency department with a travel history to Iran.
The sudden increases of cases in Italy , the Islamic Republic of Iran and the Republic of Korea are deeply concerning. There is no cure for the coronavirus, which can lead to pneumonia, and a vaccine may take up to 18 months to develop.
They found that the parasite doesn't have mitochondria, the biological machinery cells use for breaking oxygen into energy. Life started to develop the ability to metabolise oxygen - that is, respirate - sometime over 1.45 billion years ago .
Priorité de l'OM pour renforcer son attaque l'été prochain, Mbaye Niang a été approché par la direction marseillaise . Selon le journal l'Équipe , les Phocéens cibleraient l'attaquant rennais M'Baye Niang cet été.
Additional cases have also been reported in Switzerland, Kuwait, Spain, South Korea and Austria, according to the report. Authorities in Zhongwei said the patient arrived in Shanghai on February 20 after flying from Iran via Moscow.
However, as it turns out (and as expected), not all viewers were pleased with the their halftime performances in the said event. The 2020 Super Bowl halftime show, where Shakira and JLo shared the stage, is one of the most-watched of all time.
BTS Takes A Spin on Carpool Karaoke
After the ride, Corden took them to a dance class, in an attempt to join BTS as the eighth member (spoiler alert: it didn't work). He reveals that he learned English by watching Friends and launches into a clap-heavy rendition of the theme song.
Sun Yang cops eight-year ban and will miss Tokyo Olympics
The ban means the 28-year-old athlete will miss the 2020 Olympics in Tokyo - and it could very well end his career. But, as with most doping-related cases, Sun's situation is complicated. "I will let more people know the truth".
Europa League last 16: Manchester United drawn against Lask
Manchester United midfielder, Bruno Fernandes, has six goals in the league after scoring in his side's 5-0 win over Club Brugge . Below is the draw for the last 16 in full as the first legs will be played on March 12 with the second legs on March 19.
Pop band BTS cancels concerts amid coronavirus fears
South Korea reported 256 new coronavirus cases on Friday, bringing the total number of infected in the country to 2,022. The band announced on Twitter that "we regret to announce that the BTS MAP OF THE SOUL TOUR .has been cancelled".
Ruffier ne participera pas au derby
Claude Puel a confirmé la mise à l'écart de Stéphane Ruffier lors d'une conférence de presse tenue ce vendredi midi. C'est la décision annoncée par Claude Puel , entraineur et manager général de l' ASSE .