Oil rises 2% as fall in new China coronavirus cases eases fuel demand concerns

SEOUL/LONDON (Reuters) - Oil prices extended gains on Wednesday as China reported its lowest daily number of new coronavirus cases since late January, stoking investor hopes that fuel demand in the world's second-largest oil consumer may begin to recover from the epidemic. Brent crude was up $1.13, or 2.1%, at $55.14 per barrel at 1118 GMT. U.S. West Texas Intermediate (WTI) rose 82 cents, or 1.64%, to $50.76 a barrel.According to data through Tuesday, the growth rate of new coronavirus cases..