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Oil Rally Stymied After China Reports Jump in Coronavirus Cases

From bnnbloomberg.ca

A nascent rebound in oil prices ran out of steam after China’s Hubei province reported almost 15,000 new coronavirus cases as it changed its method for counting infections. The government of the province at the heart of the outbreak said it had carried out a review of past suspected cases and revised its data to include “clinically diagnosed” cases in its daily disclosure. The announcement spurred a drop in crude, which had risen almost 5% since Monday’s close on optimism that the virus was easing and the global economy would be spared a major slowdown. The revised virus count may put more pressure on Russia to ... (full story)

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