Following the news of the coronavirus outbreak, oil prices rose on Friday but were still set for a fourth consecutive weekly loss, with markets now waiting for the developments in the sector after WHO declared a global emergency.
Specifically, according to Reuters, Brent crude LCOc1 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) CLc1 rose by 34 cents to $52.48 a barrel. It is 3.2% lower on the week.
Both benchmarks rose...
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