Oil Posts Worst Week in a Year as Virus Selloff Deepens
- China lockdown of 40 million people clouds fuel-demand outlook
- France joins the U.S. in reporting cases of coronavirus
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Crude posted the worst weekly decline in more than a year on concern that the spread of China’s coronavirus will cripple fuel demand.
Brent futures sank 2.2% in London on Friday. Deaths from the coronavirus rose to at least 26 and China expanded travel restrictions for about 40 million people in an attempt to halt contagion. The U.S. is monitoring more than 60 people for potential infection and lawmakers said health authorities are expected to confirm a third case.