Oil rates went deeply down on Thursday, touching their lowest level in 7 latter weeks, losing more than 1 percent amid fears that the spread of the new pneumonia from China could reduce oil products demand.
Brent futures with delivery in March eased by 1.03 percent, to $62,56 per barrel, while U.S. WTI light crude lost 1.32 percent, to $56.00 per barrel at 0830 GMT.
The death toll from pneumonia caused by the new coronavirus in China rose to 17 on Thursday with nearly 600 confirmed cases.
The threat of a global pandemic awakened echo from an outbreak of severe acute respiratory syndrome – the so-called SARS, registered almost 20 years ago, which also began in China, hurting economic growth and triggering a drop in supply.
Meantime, according to the latest API report, the U.S. inventories grew by 1.6 million barrels last week, which ended on January, 17, falling short of markets expectations.