On Friday, Oil moved up supported by a drop in U.S. crude stockpiles. However, Oil is still on course to decline more than to 4% for the week due to concerns that China's new mysterious virus that has already caused the death of 25 people so far may spread, restricting travel and as a result the demand for fuel may decrease. U.S. West Texas Intermediate futures rose 24 cents at $55.83 a barrel. Brent crude futures increased by 24 cents, at $62.28 a barrel following a drop of almost 2% in the previous day.
The new virus now could affect Australia
Daily Analysis - 24/01/2020