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Oil falls as virus death toll climbs, U.S. stocks grow

30 January 2020 06:58 (UTC +04:00)

Oil prices fell on Thursday as the death toll from the new virus in China climbed to 170 and more airlines canceled flights to the country’s major cities, while rising U.S. crude inventories added to the negative tone.

Brent LCOc1 was down 35 cents, or 0.6%, at $59.46 a barrel by 0225 GMT, having risen 0.5% on Wednesday. U.S. crude CLc1 was down 30 cents, or 0.6%, at $53.03 a barrel, after dropping 0.3% in the previous session.

Still, oil prices have steadied in recent days after a rout that pushed them to three-month lows and the market is trying to assess the damage to economic growth and demand for crude and its products.