Coronavirus: Oil nears one-month high on supply threats, easing demand woes

Brent oil prices held near one-month highs on Thursday supported by China's efforts to boost its economy, a drop in new coronavirus cases at the epicentre of the outbreak and supply concerns in Venezuela and Libya. Brent crude futures were up 7 cents at $59.19 a barrel by 0939 GMT, after climbing to as high as $59.

71 earlier in the day. West Texas Intermediate (WTI) crude futures climbed 17 cents to $53.46 per barrel. China's move to cut its benchmark lending rate on Thursday also helped ease worries about slowing demand.....

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