Oil Falls as Sinking Demand Outweighs Stimulus Hopes

Oil prices fell on Thursday, ending three sessions of gains, as movement restrictions worldwide to contain the CCP virus.
Oil Falls as Sinking Demand Outweighs Stimulus Hopes
Paul Putnam, 53, a rancher and independent contract pumper walks past a pump jack in Loving County, Texas on Nov. 25, 2019. Angus Mordant/Reuters
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LONDON—Oil prices fell on Thursday, ending three sessions of gains, as movement restrictions worldwide to contain the CCP virus, destroyed demand and overshadowed expectations that a U.S. $2 trillion emergency stimulus will bolster economic activity.

Brent crude futures fell $1.04, or 3.75%, to $26.35 a barrel. West Texas Intermediate (WTI) crude futures fell 94 cents, or 3.8%, to $23.55 a barrel. Both contracts are down about 60% this year.