Oil prices jumped on Friday following sharp losses this week, as the World Healt...
SINGAPORE - Oil prices jumped on Friday following sharp losses this week, as the World Health Organization came out against travel and trade restrictions in declaring a global emergency over the spread of a coronavirus that originated in China last year.
“WHO’s decision ... to oppose restricting travel and trades against China boosted market confidence, even though the organization declared a global health emergency,” said Margaret Yang, market analyst at CMC Markets. The WHO on Thursday declared that the coronavirus outbreak in China - which has killed more than 200 people there and has spread to some 18 countries - now constitutes a public health emergency of international concern.
“Oil is likely to remain vulnerable despite today’s optimism that the coronavirus has likely been contained,” he said.
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