Oil prices fell on Thursday after OPEC and IEA reports cut back demand forecasts for this year on the back of the coronavirus outbreak in China, the world’s biggest oil importer. Brent crude LCOc1 lost 65 cents to $55.14 a barrel by 0930 GMT while U.S. West Texas Intermediate (WTI) CLc1 was down 39 cents at $50.78. Oil demand in China, the world’s second-largest crude consumer, has plunged because of travel restrictions to and from the country and quarantines within it. Hubei province, the epicentre of the outbreak, said on Thursday that the number of new confirmed cases there jumped by 14,840 to 48,206 on Feb. 12 ... (full story)