(Bloomberg) — Oil tumbled to a two-month low on speculation that China’s coronavirus outbreak may dent demand.Futures declined as much as 3.5% to below $55 a barrel in New York on Thursday as the world’s biggest oil importer effectively quarantined a major city to contain the SARS-like virus, which Goldman Sachs Group Inc. warned could trim global consumption. The alert has overshadowed concern over the halt of exports from Libya.“Sentiment has turned negative,” as the coronavirus is set to affect demand, said Andrew Lebow, senior partner at New York consultant Commodity Research Group.Oil is bearing the brunt of the anxiety …read more
Source:: Yahoo Finance
