U.S. West Texas Intermediate and international-benchmark Brent crude oil futures closed sharply lower last week on concerns that a virus in China may spread, hurting travel and fuel demand. China is the world’s second largest oil consumer so any slowdown in travel would show up on its demand forecasts. The news overshadowed OPEC and its allies’ cuts in supply and an unexpected drop in U.S. weekly inventories. Last week, March WTI crude oil settled at $54.19, down $4.39 or -7.49% and March Brent crude oil finished at $60.69, down $4.16 or -6.85%. Corona Virus Update While the majority of confirmed coronavirus cases ... (full story)