# Oil extends losses as coronavirus outbreak accelerates outside China | S&P Global

> Oil settled lower for a fourth straight session on Wednesday, with April Brent at $53.43 and April WTI at $48.73. The number of new coronavirus cases outside China exceeded those inside China for the first time, and global confirmed cases reached about 81,325.

- Date: 2020-02-26 · published 2020-02-26T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/7114-oil-extends-losses-as-coronavirus-outbreak-accelerates-outside-china-s-and-p
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Demand destruction concerns from the expanding outbreak keep crude under pressure, which lowers energy and transport costs but adds uncertainty to global economic growth and trade flows for feed commodities.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2020-02-28 | 5 | -13.0% | -4.1 | Fourth straight losing session as new cases outside China exceeded those inside China, boosting fears of a demand slump. |
| BRENT | 2020-02-27 | 5 | -12.4% | -3.2 | Brent fell for a fourth straight session as new virus cases outside China exceeded those inside China, escalating global demand-destruction fears. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2025-06-01 | [Oil ends at four-year lows as OPEC+ accelerates output hikes](https://feedsoft.ai/events/24839-oil-ends-at-four-year-lows-as-opec-accelerates-output-hikes.md) | +6.2% | +7.6% |
| WTI | 2020-02-26 | [Oil prices drop to lowest in more than a year as coronavirus spreads](https://feedsoft.ai/events/7110-oil-prices-drop-to-lowest-in-more-than-a-year-as-coronavirus-spreads.md) | -5.2% | -55.9% |
| WTI | 2020-01-27 | [Stocks and Oil Drop, Gold Rises As Wuhan Coronavirus Spreads - Markets Insider](https://feedsoft.ai/events/4514-stocks-and-oil-drop-gold-rises-as-wuhan-coronavirus-spreads-markets-insider.md) | -4.7% | -5.1% |
| WTI | 2022-03-15 | [Colombian peso leads global oil losses: Andes FX - Infobae](https://feedsoft.ai/events/42561-colombian-peso-leads-global-oil-losses-andes-fx-infobae.md) | +8.7% | -8.6% |
| WTI | 2020-02-03 | [Canadian dollar slides to two-month low as China virus hits oil demand - The Globe and Mail](https://feedsoft.ai/events/54810-canadian-dollar-slides-to-two-month-low-as-china-virus-hits-oil-demand-the.md) | -2.4% | -9.3% |
| BRENT | 2025-06-01 | [Oil ends at four-year lows as OPEC+ accelerates output hikes](https://feedsoft.ai/events/24839-oil-ends-at-four-year-lows-as-opec-accelerates-output-hikes.md) | +4.9% | +7.0% |
| BRENT | 2020-02-26 | [Oil prices drop to lowest in more than a year as coronavirus spreads](https://feedsoft.ai/events/7110-oil-prices-drop-to-lowest-in-more-than-a-year-as-coronavirus-spreads.md) | -5.6% | -53.2% |
| BRENT | 2020-01-27 | [Stocks and Oil Drop, Gold Rises As Wuhan Coronavirus Spreads - Markets Insider](https://feedsoft.ai/events/4514-stocks-and-oil-drop-gold-rises-as-wuhan-coronavirus-spreads-markets-insider.md) | -3.4% | -2.4% |

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/latest-news/crude-oil/022620-oil-futures-oil-extends-losses-as-coronavirus-outbreak-accelerates-outside-china

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.