Oil prices fell on Friday with fears for fuel demand growing as the coronavirus ...
TOKYO - Oil prices fell on Friday with fears for fuel demand growing as the coronavirus epidemic that originated in China spread further beyond the country, while major crude producers stood pat on taking early action to cut output to support the market.
On Friday South Korean authorities confirmed 52 new coronavirus infections, Yonhap reported. The streets of the country’s fourth-largest city were deserted on Thursday after dozens of people there went down with the pathogen in what authorities described as a “super-spreading” event. “The other risk is that the resumption of economic activity in the mainland takes longer than was, say, the case with SARS in 2003, because Beijing chooses to prioritize fighting the disease over GDP growth targets,” he added.
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