Discussing the energy stocks. With CNBC’s Brian Sullivan and the Fast Money traders, Tim Seymour, RBC’s Lori Calvasina, Dan Nathan and Steve Grasso.
U.S. oil prices experienced their steepest weekly fall since 2008 as the spread of the coronavirus stokes fears of slowing global demand.
Investors are increasingly worried as the virus has spread beyond its epicenter in China to more than 40 other countries.
West Texas Intermediate crude settled down 4.9%, to $44.76 per barrel. U.S. crude has fallen about 16% for the week, the biggest weekly decline since December 2008.
The most active Brent crude contract for May was down 3.2%, at $50.749 a barrel, a 14-month low. The front-month April contract expires later on Friday.
New infections of the coronavirus reported around the world were now surpassing those in mainland China, where more than 2,700 people have died. A further 57 deaths have been recorded in other countries.
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