Let’s talk about the oil industry. The coronavirus outbreak is impacting demand, as quarantines and travel restrictions reduce airline bookings, ship sailings, trucking schedules – all the fuel-burning transport of the modern world. And as demand goes down, production will fall, oil prices will fall, oil sales will fall – and share values in the energy sector will drop. One indicator, at least, is already clear: the oil benchmark, Brent, is down 17% since February 20.But the coronavirus outbreak will pass. A vaccine will be found, quarantines will be lifted, trade and travel will resume – the ripples will weaken …read more
Source:: Yahoo Finance
