Oil prices extended losses early on Monday, slumping to nearly four-month lows amid fears that the Chinese coronavirus outbreak will slow China’s economic growth and oil demand. At 08:25 a.m. EDT on Monday, WTI Crude was down 3.19 percent at $52.46 and Brent Crude traded down 3.11 percent at $58.03, as investors and speculators were dumping riskier assets such as oil and rushed to safe-haven assets such as gold, Treasury bills, and the Japanese yen. Oil extended its losses from last week , while the death toll from the coronavirus continues to rise. Brent Crude prices are nearing their lowest since early October 2019 and are now below the $60 a barrel psychological threshold for the first time in 2020. Brent Crude prices have dropped by some 9 percent since the virus was first detected last week, ING strategists said on Monday, noting that “Macro concerns over energy demand […]