Oil prices continued their downward slide on Monday, with Brent crude falling 4.19% by 4:20pm EDT, hitting lows not seen in 13 months as oil demand falters as the death toll for the coronavirus exceeds that of the SARS outbreak in 2002/2003. Brent crude was trading at $54.26 per barrel—the last time oil was that low was during the last week of 2018. WTI crude was also trading down on Monday, at $49.99—below the $50 threshold—after falling 3.04% on the day. Both benchmarks are down more than $10 over the last month. WTI is now officially in a bear market, shedding 20% of its price in January. China has reported 361 deaths from the virus so far—this compares to 349 deaths from SARS. The number of confirmed coronavirus cases in China has reached 17,205—this is double that of SARS. And oil’s price drop is not just market panic—demand is […]