Oil falls 1% as demand fears outweigh hopes for bigger OPEC+ cuts

NEW YORK (Reuters) - Oil prices sank about 1% on Tuesday as fears that energy demand would take a long-term hit from the growing coronavirus outbreak outweighed hopes for more production cuts from OPEC and its allies.Brent crude settled at $53.96 a barrel, sliding 49 cents, or 0.9%, while U.S. West Texas Intermediate (WTI) crude settled at $49.61 a barrel, losing 50 cents, or 1%. Both benchmarks were at their lowest since January 2019. "I think the fear of demand destruction continues to..