Oil prices dropped more than $1 a barrel on Thursday as a growing number of virus-related restrictions on travel slashed global fuel demand, overshadowing expectations that a $2 trillion U.S. stimulus package will bolster economic activity. The head of the International Energy Agency said worldwide oil demand could drop as much as 20 million barrels per day, or 20% of total demand, as 3 billion people are currently under stay-at-home orders due to the novel coronavirus outbreak. West Texas Intermediate (WTI) crude CLc1 futures settled at $22.60 a barrel, falling $1.89, or 7.7%. Brent crude LCOc1 futures settled at $26.34 a barrel, shedding $1.05, or 3.8%. Both contracts are down about 60% this year. The twin shocks of the coronavirus pandemic […]