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On Wednesday, the price of oil increased 2% as the spread of the coronavirus showed signs of a slowdown within China. New coronavirus cases fell for a second day according to official data. The World Health Organization still says that there is not enough data to show whether the virus was being contained. Brent crude settled at $59.12 a barrel, rising $1.37, or 2.4%.

Price of Oils Goes Up 2% Due to Lessening Fears of Coronavirus

On Wednesday, the price of oil increased 2% as the spread of the coronavirus showed signs of a slowdown within China. New coronavirus cases fell for a second day according to official data. The World Health Organization still says that there is not enough data to show whether the virus was being contained. Brent crude settled at $59.12 a barrel, rising $1.37, or 2.4%.

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