The U.S. vitality secretary doesn’t imagine the final word impression of China’s fast-spreading coronavirus is a trigger for concern for markets.
His feedback come shortly after each OPEC and the Worldwide Power Company (IEA) dramatically lowered their oil demand progress forecasts this 12 months on account of the lethal flu-like virus.
“I believe we’re going to pay shut consideration to what’s occurring with the virus itself. We’re nonetheless analyzing, not solely the precise virus to study extra about it, but additionally the response to it,” Dan Brouillette instructed CNBC’s Hadley Gamble in an unique interview on the sidelines of the Munich Safety Convention on Friday.
“So, we need to see if the Chinese language authorities will be capable to comprise or no less than assist comprise the unfold of the virus. At this second, whereas we’re seeing some slight reductions in manufacturing on account of the virus, we aren’t but involved about its final impression.”
Worldwide benchmark Brent crude traded at $56.40 Friday morning,…