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Oil prices rise about 1%, up from 13-month low as virus cases slow

Wednesday, February 12, 2020, 2:20 PM

Oil prices rose about 1% on Tuesday, up from 13-month lows as the number of new coronavirus cases slowed in China, easing some concern over the potential for lengthy oil demand destruction. The death toll surpassed 1,000 on Tuesday, though the number of new confirmed cases fell. The epidemic may be over by April, said the Chinese government's top medical adviser on the outbreak.