Oil prices rose more than 1% on Tuesday as recent sharp falls have encouraged in...
FILE PHOTO: Drilling rigs operate at sunset in Midland, Texas, U.S., February 13, 2019.REUTERS/Nick Oxford/File Photo
Brent crude LCOc1 rose 79 cents, or nearly 1.5%, to $54.06 a barrel by 0216 GMT, while U.S. West Texas Intermediate CLc1 was up 63 cents, or about 1.3%, to $50.20. The number of coronavirus deaths on the mainland have now reached 1,016, China’s National Health Commission said, and the number of cases have topped 42,600.
While the virus outbreak is hurting China’s economy - and others affected such as Japan and Singapore - San Francisco Federal Reserve Bank President Mary Daly, said the coronavirus impact on the U.S. economy has been limited.
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