Crude is trading sideways in Wednesday trade. U.S. crude oil is trading at $53.95, up $0.01 or 0.03% on the day. Brent crude oil is trading at $60.22, up $0.22 or 0.37%. The sharp slide which started last week sent U.S. crude prices lower by over 10 percent. There was some relief on Tuesday as crude prices recovered by over 2 percent. Still crude has had a miserable January, falling close to 12 percent. The catalyst for the sharp drop in oil prices has been the China coronavirus, as the outbreak has raised concerns that the Chinese economy will be damaged and demand for oil will be reduced. China is the world’s ... (full story)