Oil rout extends to sixth day as China virus death toll rises
Tuesday, 28 January 2020 18:23 WIB | ENERGY |Minyak WTI

Oil futures were set for a sixth day of losses as the death toll from a virus in China rose, but the heavy sell-off of recent sessions was curbed by output outages in Libya and OPEC comments designed to calm demand fears.

Brent crude (LCOc1) was down 51 cents at $58.81 a barrel at 0925 GMT, having hit a three-month low of $58.50 on Monday as the virus outbreak triggered a global sell-off of riskier assets.

U.S. West Texas Intermediate (CLc1) was down 32 cents at $52.82 a barrel, after slipping to its lowest since early October in the previous session at $52.13. Both contracts are on track for their worst monthly falls since May.

The United States and other countries warned against travel to China as the coronavirus death toll rose to more than 100 and after the virus was detected in more than a dozen countries outside China.

Source: Reuters

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