The number of confirmed deaths from China's coronavirus outbreak jumped to 490 on Wednesday. The infected cases rose to 24,324 as the virus continues to spread in China.

Will nCoV be forgotten like SARS?

Oil prices jumped about 2 per cent on Wednesday on media reports that suggested scientists were developing a vaccine for the fast-spreading coronavirus, even as world health experts said treatments have not yet been found.

Oil prices jumped about 2 per cent on Wednesday on media reports that suggested scientists were developing a vaccine for the fast-spreading coronavirus, even as world health experts said treatments have not yet been found. Also supporting oil was news that the Organization of the Petroleum Exporting Countries (OPEC) and its producer allies were considering further output cuts to counter a potential squeeze on global oil demand. The outbreak has killed nearly 500 people and is weighing on global economic activity and oil demand. The World Health Organization played down the media reports, saying there was "no known effective therapeutics" against the virus. Brent crude oil futures ended the session up $1.32, or 2.5 per cent, at $56.46 a barrel while US West Texas Intermediate (WTI) crude gained $1.14, or 2.3 per cent, to settle at $50.75. Both contracts rose more than 4 per cent during the session. Prices held gains after data showed US crude inventories rose by 3.4 million barrels in the week to January 31, compared with expectations in a poll for a rise of 2.8 million barrels. "The report probably had nothing shocking enough to ruin the momentum of the big crude comeback that we are seeing today," said Phil Flynn, an analyst at Price Futures Group in Chicago. Also Read: Oil falls 1% as demand fears outweigh hopes for bigger OPEC+ cuts "The main reason oil sold off as hard as it did wasn't because of what we knew; it was what we didn't know. Now, it seems like we can quantify the demand destruction and look ahead." China's Changjiang Daily newspaper reported on Tuesday that a team of researchers led by Zhejiang University Professor Li Lanjuan had found that drugs Abidol and Darunavir can inhibit the virus in vitro cell experiments. Separately, Sky News reported that a British scientist has made a significant breakthrough in the race for a vaccine by reducing part of the normal development time from two to three years to only 14 days. [ Oil Pump (Courtesy: Reuters) ] Still, refineries including China's Sinopec, Asia's top refiner, have slashed throughput as the virus cuts demand for refined fuels. Fears of a slump in global oil demand had pushed US crude and Brent futures into contango this week - a structure in which longer-dated oil futures trade at a premium that encourages traders to keep crude in storage for more profitable resale in the future. "Based on our forecast that China's GDP growth will slow to just 3 per cent year-over-year in Q1 2020 and assuming that the virus is brought under control relatively quickly, we have tentatively pencilled in a 10 per cent drop in the country's oil consumption in Q1," Capital Economics analysts said in a note on Wednesday. Falling demand for jet fuel worldwide because of the deadly coronavirus has also hit US prices for the product, which dropped to their lowest seasonally in five years, market participants said. Companies including Royal Dutch Shell and Phillips have limited business travel to China. Demand Impacted A slowdown in the global economy resulting from the outbreak is expected to reduce 2020 worldwide oil demand growth by 300,000-500,000 barrels per day (BPD), roughly 0.5 per cent of total demand, BP's Chief Financial Officer Brian Gilvary said. "The (Chinese) economy will be weakened for some time to come as quarantines, social distancing and travel restrictions remain in place," BNP Paribas analyst Harry Tchilinguirian stated. "But as financial markets are anticipatory, one can see how favourable news with potential medical solutions, or indications that we have reached a turning point in the progress of the virus outbreak, are likely to be interpreted positively." OPEC and allies led by Russia, a group known as OPEC+, considered the impact on global oil demand and economic growth from the coronavirus at a meeting on Wednesday. According to reports, Russia was not supporting a deeper oil output cut and was suggesting an extension of the current pact.

Oil prices jump 2 per cent as virus vaccine reports spur hope

Experts are believing that the Surat diamond industry could face losses of Rs 8,000 cr. This is because Hong Kong and China are integral to India's diamond export. Polished diamonds of worth Rs 50,000 cr are exported from Surat to Hong Kong every year.

Coronavirus hits Surat diamond industry

The number of confirmed deaths from China's coronavirus outbreak jumped to 563. The infected cases rose to 28,000 in China as the virus continues to spread in China. The officials in Wuhan said they are facing a shortage of hospital beds and equipment to treat the patients.

Coronavirus death toll in China rises to 563

Chinese Company Tracker Shows 40x Casualty

China's National Health Commission held its daily press briefing on the coronavirus outbreak. The number of confirmed deaths from China's coronavirus outbreak jumped to 563. The infected cases rose to 28,000 in China as the virus continues to spread in China. The officials in Wuhan said they are facing a shortage of hospital beds and equipment to treat the patients.

China's National Health Commission hold briefing on coronavirus

Coronavirus death count higher than reported?

The second batch of American evacuees from China were brought back in two separate jets. The 350 US citizens have been screened and are currently under quarantine at 2 military bases in California.

US continues evacuation from Hubei province

The number of confirmed deaths from China's coronavirus outbreak jumped to 490 on Wednesday (February 5). The infected cases rose to 24,324 as the virus continues to spread in China.

Coronavirus outbreak: What kind of economic impact Hong Kong is set to face?

Iran has evacuated 56 of its own citizens, 59 Iraqis, 24 Syrians, and, 1 Lebanese national from China's Wuhan. The number of confirmed deaths from China's coronavirus outbreak jumped to 490 on Wednesday (February 5). The infected cases rose to 24,324 as the virus continues to spread in China.

Coronavirus outbreak: Iran evacuates its citizens from China's Wuhan

The number of confirmed deaths from China's coronavirus outbreak jumped to 490 on Wednesday (February 5). The number of infected cases rose to 24,324 as the virus continues to spread in China.

Coronavirus death toll rises to 490, over 2400 infected worldwide

Pakistan will not airlift its citizens stranded in Wuhan, the Chinese city worst hit by the Novel Coronavirus outbreak, which has killed over 300 people in the country.

Pakistan Won't Airlift Its People From Virus-Hit China

On Sunday, China’s Health Commission reported that 361 people had died from the disease — surpassing the country’s 2002 to 2003 SARS outbreak death toll of 349.

Indian Govt reviews nCoV preparedness

The numbers of coronavirus deaths and infections are continuously rising around the world. China has placed millions under lockdown as the virus continues to spread. Countries are evacuating their citizens from the epicentre of the outbreak which is Wuhan. Watch report:

WION Dispatch: Countries evacuate its citizens from epicenter of Coronavirus outbreak

Overnight there has been a massive hike in the death toll of the deadly coronavirus. Around 425 people have lost their lives around the world and 62 new deaths were reported in China and all the casualties were reported in the Hubei province. WHO has warned all the countries dealing with the coronavirus outbreak by preparing and not by panicking. At a press briefing in Geneva, the Director of 'Global Infections' elaborated about the global collaboration of WHO and Google to narrow down all the information regarding the coronavirus, to avoid the spread of misinformation on the internet.

WION Dispatch: Coronavirus kills 425 people killed around the world, WHO ask countries to not panic

India has evacuated nearly 600 of its citizen's mainly students from Wuhan. Hundreds of Pakistani students are still waiting for help as they are stranded in a city which is a lockdown. These Pakistani's are appealing to their government for help. Two such students spoke to WION. Watch report:

Your Story: Stranded Pakistani students in Wuhan seek help from their govt

The fast spreading outbreak of coronavirus has killed 427 people and threatened the global economy. The World Health Organisation has asked all countries dealing with coronavirus to be prepared and not panic. Watch report:

Fineprint: WHO asks nations dealing with Coronavirus to be prepared, not panic

The Indian state of Kerala has declared a state of emergency as the third case of deadly coronavirus has been confirmed in the state. Another Indian state Karnataka is also observing 63 travellers who have recently come from coronavirus affected countries. Out of them 58 people have been put under isolation at home and one person has been admitted to an isolation ward in the hospital. Watch report:

Fineprint: India confirms 3rd case of Coronavirus in Kerala, Indian govt reviews nCOV preparedness

The World is One News, WION examines global issues with in-depth analysis. We provide much more than the news of the day. Our aim is to empower people to explore their world.

WION Speed News: Watch top national and international news of the morning - February 04, 2020

On Thursday, the World Health Organisation (WHO) declared a global health emergency over the outbreak of the coronavirus, which is believed to have originated at a wild animal market in Wuhan and was first detected in December 2019.

Coronavirus Outbreak: Pak students appeal to their govt for help

More figures have been trickling in the deadly Coronavirus and its spread across the world. In the latest Belgium has confirmed its first case. Belgium had evacuated a total of nine people from Wuhan in China, which has been the epicentre of that virus. Among the nine people, one has been tested positive.

Belgium confirms 1st case of Coronavirus

As the deadly Coronavirus spreads the city of Wuhan is under complete lockdown. The government's response has been opaque at times with information very hard to come by. Watch this report to know the inside situation in the city of Wuhan.

What is it like inside the Wuhan lockdown

Pakistan has abandoned its citizens in China. More than 1500 Pakistani citizens are still stranded in Hubei. More than 500 of them are in Wuhan. Unable to return, some of them reached out to WION to register a plea for help. Here is what they told us.

Gravitas: Abandoned Pak citizens reach out to WION

How is China handling the virus outbreak? Beijing has unleashed a wave of propaganda to counter criticism. WION's Palki Sharma tells you how China is trying to win the narrative war.

Gravitas: Wuhan Virus, China tries to control the narrative

WION Speed News: Watch top national and international news of the morning - February 03, 2020

Chinese stocks plummeted by the most since an equity bubble burst in 2015 as they resumed trading amid the worsening virus outbreak.

Your Story: China stocks jitter amid Coronavirus outbreak

The 1,000-bed facility was designed for patients with confirmed infections to ease a shortage of beds elsewhere in Wuhan, where the rapidly-spreading virus is thought to have originated late last year.

Your Story: China races against time to build hospitals

India on Sunday announced that it has suspended issuing electronic-visas, or e-visas, to Chinese passport holders and applicants of other nationalities residing in the world's most populous country.

WION Dispatch: India suspends E-visas for Chinese citizens

Coronavirus: A Global Contagion; CGTN's Jarchine Zhou reports from Wuhan. In the Coronavirus Outbreak, Wuhan virus has been already spread across 25 countries of 4 different continents. 17,000 people have been affected and more than 300 have been killed. Did China hide on Coronavirus outbreak earlier?

Coronavirus: A Global Contagion; CGTN's Jarchine Zhou reports from Wuhan

Hong Kong Medical Workers Strike for China Border Closure | WION News | World News Hundreds of Hong Kong medical workers walked off their jobs on Monday, demanding the city close its border with China to reduce the coronavirus spreading

Hong Kong Medical Workers Strike for China Border Closure

Japan confirmed an additional three <a href="https://www.wionews.com/world/japan-tells-citizens-to-avoid-non-essential-travel-to-china-277709">cases of the new coronavirus</a> among evacuees from the Chinese city of Wuhan, including one who initially tested negative, the Health Ministry said, bringing the country's total to 20 cases.

One of the three, a man in his 40s who had symptoms such as fever and coughing, first tested negative for coronavirus, the ministry said. But the man, who was initially diagnosed with pneumonia, later confirmed positive for the virus with an additional test, it said.

The government plans to <a href="https://www.wionews.com/world/japan-sends-plane-to-virus-hit-wuhan-to-evacuate-citizens-277129">send another chartered plane</a> mid-week or later to bring back Japanese nationals who are still in China's Hubei province and the capital Wuhan, where the disease is thought to have originated, the foreign ministry said on Sunday.

<img alt="Coronavirus" data-entity-type="file" data-entity-uuid="3c778734-975d-4611-be1f-0639a5142890" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20%2873%29_1.jpg" /> 
[ Extreme precautions are being taken to counter the coronavirus - Representative Image (Courtesy: Reuters)

Also Read:&nbsp;<a href="https://www.wionews.com/world/japan-reports-first-case-of-mystery-virus-behind-china-outbreak-274738">Japan reports first case of mystery virus behind China outbreak</a>

Japan has emailed its citizens in the province to tell them of its plan, and is negotiating with China about Chinese spouses of Japanese citizens who also wish to travel to Japan, it said.

China is facing mounting isolation amid increasing international travel curbs and flight suspensions as the death toll from the coronavirus outbreak rose to 259. Japan on Saturday moved to contain the economic impact of the outbreak as strict new measures aimed at limiting the spread of the virus came into effect.

Japan confirmed an additional three cases of the new coronavirus among evacuees from the Chinese city of Wuhan, including one who initially tested negative, the Health Ministry said, bringing the country's total to 20 cases.

Japan confirmed an additional three cases of the new coronavirus among evacuees from the Chinese city of Wuhan, including one who initially tested negative, the Health Ministry said, bringing the country's total to 20 cases. One of the three, a man in his 40s who had symptoms such as fever and coughing, first tested negative for coronavirus, the ministry said. But the man, who was initially diagnosed with pneumonia, later confirmed positive for the virus with an additional test, it said. The government plans to send another chartered plane mid-week or later to bring back Japanese nationals who are still in China's Hubei province and the capital Wuhan, where the disease is thought to have originated, the foreign ministry said on Sunday. [ Extreme precautions are being taken to counter the coronavirus - Representative Image (Courtesy: Reuters) Also Read: Japan reports first case of mystery virus behind China outbreak Japan has emailed its citizens in the province to tell them of its plan, and is negotiating with China about Chinese spouses of Japanese citizens who also wish to travel to Japan, it said. China is facing mounting isolation amid increasing international travel curbs and flight suspensions as the death toll from the coronavirus outbreak rose to 259. Japan on Saturday moved to contain the economic impact of the outbreak as strict new measures aimed at limiting the spread of the virus came into effect.

Three more Japanese citizens evacuated from Wuhan test positive for nCoV

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