OIL PRICES SLIPED ON IMPACT OF CORONAVIRUS ON DEMAND
OIL PRICES EDGED LOWER ON MONDAY AS INVESTORS BRACE FO ECONOMIC DATA IN ASIA DUE THIS WEEK THAT SHOULD GIVE A READING ON HOW CHINA’S CORONAVIRUS EPIDEMIC HAS AFFECTED OIL DEMAND.
BUT THE INTERNATIONAL ENERGY AGENCY (IEA) SAID THE VIRUS IS ALREADY SET TO CAUSE OIL DEMAND TO FALL BY 435,000 BARRELS PER DAY IN THE FIRST QUARTER FROM THE SAME PERIOD A YEAR AGO, IN WHAT WOULD BE THE FIRST QUARTERLY DROP SINCE THE DEPTHS OF THE FINANCIAL CRISIS IN 2009.