US crude deepns losses, Brent sheds 1.5%

Oil prices fell on Friday, weighed down by escalating fears over the coronavirus spread in China and several other countries.

The World Health Organization urged taking quick measures to contain the virus before developing further and gets out of control.

China revealed today that coronavirus death toll rose to 2,250 victims and has infected almost 76,000 cases, as Italy also confirmed 10 cases in north of the country.

Otherwise, Baker Hughes will be release its count for the US oil and natural gas drilling rigs later today.

West Texas intermediate crude fell by 1% to trade at $53.3 a barrel as of 17:44 GMT, with a high of $53.8 and a low of $52.5

Brent crude fell by 1.5% to $58.3, after it hit a high of $59.2 and a low of $57.7.