But the WHO has played down the media reports, saying there were “no known effective therapeutics”
A nurse at the Wuhan Fifth Hospital in Wuhan, China, on January 24. Picture: AFP/HECTOR RETAMAL
Lending support to oil was news that Opec and its producer allies are considering further output cuts to counter a potential squeeze on global oil demand. China’s Changjiang Daily newspaper reported on Tuesday that a team of researchers led by Prof Li Lanjuan of Zhejiang University had found that in vitro cell experiments showed the drugs Abidol and Darunavir can inhibit the virus.
Fears of a slump in global oil demand had pushed US crude and Brent futures into contango this week — a structure in which longer-dated oil futures trade at a premium that encourages traders to keep crude in storage for more profitable resale in the future. A slowdown in the global economy resulting from the outbreak is expected to reduce 2020’s worldwide oil demand growth by 300,000-500,000 barrels per day , roughly 0.5% of total demand, BP CFO Brian Gilvary said on Tuesday.
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