UPDATE: Oil futures tally a second monthly loss
Oil futures fell sharply on Friday (http://www.marketwatch.com/story/global-oil-benchmark-falls-to-2-12-year-low-as-coronavirus-sparks-demand-fears-2020-02-28), to suffer their second month of losses as concerns over energy demand on the heels of the spread of COVID-19 continued to plague the market. Traders also weighed the potential outcomes for the gathering (http://www.marketwatch.com/story/coronavirus-and-russia-pose-the-biggest-challenges-for-opec-efforts-to-lift-oil-prices-2020-02-28) of the Organization of the Petroleum Exporting Countries and their allies on March 5 and 6. April West Texas Intermediate oil fell $2.33, or about 5%, to settle at $44.76 barrel on the New York Mercantile Exchange. The front-month contract fell over 16% for the week and tallied a monthly decline of more than 13%, according to FactSet data.
-Myra P. Saefong; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
February 28, 2020 15:17 ET (20:17 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.