It seems that oil markets have decided that the coronavirus worst-case scenario that sent prices below the $50 mark is increasingly unlikely, with WTI now moving back up towards $52. Oil prices rebounded in the second half of this week, as markets eyed progress in China on the coronavirus. “The market is getting more comfortable that we’ve hit the bottom,” Rebecca Babin, a senior equity trader at CIBC Private Wealth Management, told Bloomberg . “Oil markets have discounted the worst case and could show more resilience as long as cases outside of China are not spiking.” Gas writedowns reach Europe. The U.S. shale gas industry revealed more writedowns this week when they reported fourth-quarter earnings, as the financial pressure continues to mount with Nymex […]