The Wall Street Journal
Crude Oil Price Heads for Third Weekly Drop
Oil was on track to post a third-straight weekly loss, with prices driven down by slowing demand in China amid coronavirus outbreaks in the world’s second-largest economy. Uncertainty surrounding OPEC’s meeting on Dec. 4 and sanctions due to hit Russia’s energy industry the next day have fueled big moves in both directions in recent days. Still, at about $85 a barrel in recent trading, Brent-crude futures were heading for a 2.7% weekly decline. Traders are focused on the price cap that the U.S.,