Oil hits 13-month lows as coronavirus cuts demand

NEW YORK (Reuters) - Oil prices fell to the lowest in more than a year on Monday as the coronavirus outbreak curtailed Chinese demand and sparked potential supply cuts by OPEC and its allies.Brent crude settled down $2.17, or 3.8% at $54.45 a barrel, its lowest since January last year. U.S. West Texas Intermediate (WTI) crude fell $1.45 a barrel to $50.12 after touching a session low of $49.91, also the lowest since January 2019. "We have not seen a demand destruction event of this scale..