Dated Brent was assessed by S&P Global Platts at $50.49/b Friday, the lowest since December 31, 2018 and down nearly 22% from January 20. Year-ahead Brent futures settled at a 19 cents/b contango to the front month Friday, flipping from a $1.75/b backwardation February 21. The one-year NYMEX WTI spread finished Friday in a $1.41/b contango, compared to an 81 cent/b backwardation February 21. The Singapore jet crack spread against Brent ended Friday at 5.68/b, down from $11.34/b January 20. The Rotterdam jet fuel crack against Brent ended Friday at $8.58/b, down from $14.17/b January 20. The New York jet crack ended Friday at $10.024/b, down from $14.19/b January 20. New York — Oil prices moved sharply lower this week amid a renewed focus on demand destruction following a flurry of new coronavirus cases outside of China.