Tag Archives: SARS

Oil falls as spectre of China virus looms over fuel demand

By Julia Payne

LONDON (Reuters) – Oil prices fell on Thursday on concern that the spread of a respiratory virus from China could lower fuel demand if it stunts economic growth in an echo of the SARS epidemic nearly 20 years ago.

Brent crude futures  were down 88 cents, or 1.39%, at $62.33 a barrel by 1225 GMT, having earlier touched their lowest since Dec. 4. They lost 2.1% in the previous session.

U.S. West Texas Intermediate futures  fell 89 cents, or 1.57%, to $55.85 a barrel after earlier falling to the lowest since Dec. 3. The contract declined 2.7% on Wednesday.

On Thursday, China put on lockdown two cities that were at the epicentre of a new coronavirus outbreak that has killed 17 people and infected nearly 600, as health authorities around the world scrambled to prevent a global pandemic.

The potential for a pandemic has stirred memories of the Sudden Acute Respiratory Syndrome outbreak in 2002-03, which also started in China and dented economic growth and caused a slump in travel.

“Fundamentals are really being driven by virus fears. On a technical basis, there’s been a fight over the past six sessions but oil finally broke the 200-day moving average when it closed below that level yesterday,” said Olivier Jakob, of consultancy Petromatrix.

Cases have been detected as far as away as the United States and global stock markets were also down in part due to fears of the virus spreading further as millions of Chinese prepare to travel for the Lunar New Year.

Beijing said on Thursday that it had cancelled major public events, including two well-known Lunar New Year temple fairs, to curb the spread.

“We estimate a price shock of up to $5 (a barrel) if the crisis develops into a SARS-style epidemic based on historical oil price movements,” JPM Commodities Research said in a note.

The U.S. bank maintained its forecast for Brent to average $67 a barrel in the first quarter and $64.50 a barrel throughout 2020.

Amid all the demand concerns, however, supply remains plentiful.

U.S. crude stockpiles rose last week by 1.6 million barrels, against expectations of a drop, the American Petroleum Institute said late on Tuesday. [API/S]

Brazil also produced more than a billion barrels of oil in 2019, a first for the South American nation, the national oil regulator said on Wednesday.

China, meanwhile, released data on Thursday showing its gasoline exports rose nearly a third last year thanks to new refineries.

(Additional reporting by Aaron Sheldrick in Tokyo; Editing by David Goodman and Bernadette Baum)

Global alarm mounts as China virus deaths hit 17

By Cate Cadell and David Stanway

BEIJING/SHANGHAI (Reuters) – Deaths from China’s new flu-like virus rose to 17 on Wednesday with more than 540 cases confirmed, increasing fears of contagion from an infection suspected to originate from illegally traded wildlife.

The previously unknown coronavirus strain is believed to have emerged from an animal market in central city of Wuhan, with cases now detected as far away as the United States.

Contrasting with its secrecy over the 2002-03 Severe Acute Respiratory Syndrome (SARS) that killed nearly 800 people, China’s communist government has this time given regular updates to try to avoid panic as millions travel for the Lunar New Year.

“The rise in the mobility of the public has objectively increased the risk of the epidemic spreading,” National Health Commission vice-minister Li Bin said.

The World Health Organization (WHO) was meeting in a high-tech room at its Geneva headquarters to decide whether the outbreak is a global health emergency.

Many Chinese were cancelling trips, buying face masks, avoiding public places such as cinemas and shopping centers, and even turning to an online plague simulation game or watching disaster movie “The Flu” as a way to cope.

“The best way to conquer fear is to confront fear,” said one commentator on China’s Twitter-like Weibo.

The virus has spread from Wuhan to population centers including Beijing, Shanghai, Macau and Hong Kong.

With more than 11 million people, Wuhan is central China’s main industrial and commercial center and a transport hub, home to the country’s largest inland port and gateway to its Three Gorges hydroelectric dam.

The latest death toll in Hubei province, of which Wuhan is the capital, rose from nine to 17 by midday on Wednesday, state television quoted the provincial government as saying.

The official China Daily newspaper said 544 cases had now been confirmed in the country. Thailand has confirmed four cases, while the United States, Taiwan, South Korea and Japan have each reported one.

U.S. President Donald Trump said U.S. Centers for Disease Control and Prevention had a good containment plan. “We think it is going to be handled very well,” he said at Davos in Switzerland.

RESPIRATORY THREAT

Li said the virus, which can cause pneumonia and has no effective vaccine, was being spread via breathing. Symptoms include fever, coughing and difficulty breathing.

“I believe the government for sure, but I still feel fearful. Because there’s no cure for the virus,” said Fu Ning, a 36-year-old woman in Beijing. “You have to rely on your immunity if you get an infection. It sounds very scary.”

Fears of a pandemic initially spooked markets but they regained their footing on Wednesday.

But companies across China, from Foxconn  to Huawei Technologies and HSBC Holdings , warned staff to avoid Wuhan and handed out masks.

Terry Gou, founder of Apple supplier Foxconn, said he was advising employees not to visit China. Automaker General Motors Co, which operates a plant in Wuhan in a joint venture with China’s SAIC Motor, placed a temporary restriction on employees’ travel to Wuhan.

The chief executive of one of the world’s largest aircraft lessors, Aercap, said he expected the virus to impact Chinese airlines’ profitability in the first quarter.

Chinese officials believe wildlife trafficked at a Wuhan market was the source of the virus. Two sources said provincial and city officials in Wuhan had been told to remain in the city, and those who have left were told to report their whereabouts.

WHO spokesman Tarik Jasarevic said new cases would appear as China increased monitoring. But Li said there was no evidence of “super-spreaders” capable of disseminating the virus more widely, as happened during the SARS outbreak. SARS was thought to have crossed to humans from civet cats sold for food.

GLOBAL PRECAUTIONS

Airports globally stepped up screening from China.

Russia strengthened its sanitary and quarantine controls, Britain said it was starting enhanced monitoring of passengers from Wuhan, and Singapore started screening all passengers from China. Italy created a task force to monitor the possible spread of the virus.

The Chinese-ruled gambling hub of Macau confirmed its first case of pneumonia linked to the coronavirus and tightened body-temperature screening measures.

A first case emerged in Chinese-ruled Hong Kong, media reported, with the patient arriving via high-speed railway from the mainland, and Mexico was investigating a potential case.

North Korea banned foreign tourists, several foreign tour operators said. Some qualifying boxing matches for the 2020 Olympics set for Wuhan were canceled and women’s football qualifiers were shifted to Nanjing.

China’s Central Political and Legal Affairs Commission, the top legal authority, said anyone failing to report virus cases “will be forever nailed to the pillar of historical shame”.

But some experts were skeptical. “We have reason to doubt whether surv (surveillance) is adequate as cases mount,” tweeted Lawrence Gostin, a public health expert at Georgetown University Law School in Washington.

(Reporting by Cate Cadell, Lusha Zhang and Jiang Xihao in Beijing, David Stanway in Shanghai, Anne Marie Roantree in Hong Kong, Ben Blanchard in Taipei, Josh Smith in Seoul, Stephanie Nebehay in Geneva, Kate Kelland in London, Alexandra Alper in Davos, Shreyashi Sanyal in Bangalore, Ian Ransom in Melbourne; Writing by Andrew Cawthorne and Timothy Heritage; Editing by Janet Lawrence and Nick Macfie)

China virus deaths rise to nine, heightening global alarm

By Cate Cadell and David Stanway

BEIJING/SHANGHAI (Reuters) – Deaths from China’s new flu-like virus rose to nine on Wednesday with more than 470 confirmed cases, heightening global fears of contagion from an infection suspected to have come from animals.

The previously unknown and contagious coronavirus strain emerged from the central city of Wuhan, with cases now detected as far away as the United States. Officials believe the origin to be a market where wildlife is traded illegally.

Contrasting with its secrecy over the 2002-03 Severe Acute Respiratory Syndrome (SARS) that killed nearly 800 people, China has this time given regular updates to try and head off panic as millions travel at home and abroad for the Lunar New Year.

“The rise in the mobility of the public has objectively increased the risk of the epidemic spreading,” National Health Commission vice-minister Li Bin acknowledged.

The World Health Organization (WHO) began an emergency meeting to rule if the outbreak was a global health emergency.

Amid official exhortations to stay calm, many Chinese were cancelling trips, buying face masks, avoiding public places like cinemas and shopping centers, and even turning to an online plague simulation game or watching disaster movie “The Flu” as a way to cope.

“The best way to conquer fear is to confront fear,” said one commentator on China’s Twitter-like Weibo.

The virus has spread from Wuhan around China to major population centers including Beijing, Shanghai, Macau and Hong Kong, with 473 cases confirmed in the country. Abroad, Thailand has confirmed four cases, while the United States, Taiwan, South Korea and Japan have each reported one.

President Donald Trump said the United States’ Centers for Disease Control and Prevention had a good containment plan. “We think it is going to be handled very well,” he said at Davos in Switzerland.

RESPIRATORY THREAT

Li said the virus, which can cause pneumonia, was being spread via breathing. Symptoms include fever, coughing and difficulty breathing. About 2,200 people in contact with infected people were in isolation.

There is no vaccine for the virus.

“I believe the government for sure, but I still feel fearful. Because there’s no cure for the virus,” said Fu Ning, a 36-year-old woman in Beijing. “You have to rely on your immunity if you get an infection. It sounds very scary.”

Fears of a pandemic initially spooked markets, with aviation and luxury goods stocks hit and the yuan falling, but they were regaining their footing on Wednesday in approval of China’s containment response.

Across China, companies from Foxconn <2317.TW> to Huawei Technologies [HWT.UL] and HSBC Holdings <HSBA.L> were warning staff to avoid Wuhan and handing out masks. Terry Gou, the billionaire founder of Apple <AAPL.O> supplier Foxconn, said he was advising employees not to visit China.

With more than 11 million people, Wuhan is central China’s main industrial and commercial center and an important transport hub, home to the country’s largest inland port and gateway to its giant Three Gorges hydroelectric dam.

WHO spokesman Tarik Jasarevic said new cases would appear as China stepped up monitoring. But Li said there was no evidence of “super-spreaders” capable of disseminating the virus more widely, as happened during the SARS outbreak. SARS was thought to have crossed to humans from civet cats sold for food.

GLOBAL PRECAUTIONS

Airports round the world have stepped up screening of people from China.

The Chinese-ruled gambling hub of Macau confirmed its first case of pneumonia linked to the coronavirus and tightened body-temperature screening measures.

A first case of the virus emerged in Hong Kong on Wednesday, media reported. The patient arrived via high-speed railway from the mainland and had been quarantined.

“The whole world is watching,” the city’s commerce secretary, Edward Yau, told Reuters at the World Economic Forum in Davos.

North Korea banned foreign tourists from Wednesday due to the virus, several foreign tour operators said, losing one of its main sources of foreign currency.

Sport too was affected, with some qualifying boxing matches for the 2020 Olympics set for Wuhan canceled and women’s football qualifiers shifted to Nanjing.

China’s Central Political and Legal Affairs Commission, the top legal authority in the communist-ruled country, posted on Tuesday that anyone failing to report virus cases “will be forever nailed to the pillar of historical shame”.

And state broadcaster CCTV has shown footage of doctors in quarantine gear in Wuhan.

But despite such openness, some experts were sceptical.

“We have reason to doubt whether surv (surveillance) is adequate as cases mount,” tweeted Lawrence Gostin, a public health expert at Georgetown University Law School in Washington.

Neil Ferguson, an infectious disease specialist at Imperial College London, estimated the number of cases in Wuhan at about 4,000 and predicted the outbreak would spread fast.

“Novel viruses can spread much faster through the population than other viruses because we have no immunity to them,” he said.

(Reporting by Cate Cadell, Lusha Zhang and Jiang Xihao in Beijing, David Stanway in Shanghai, Anne Marie Roantree in Hong Kong, Ben Blanchard in Taipei, Josh Smith in Seoul, Stephanie Nebehay in Geneva, Kate Kelland in London, Alexandra Alper in Davos, Shreyashi Sanyal in Bangalore, Ian Ransom in Melbourne; Writing by Andrew Cawthorne; Editing by Janet Lawrence)

New China virus claims sixth victim as holiday travel stokes risk

New China virus claims sixth victim as holiday travel stokes risk
By Se Young Lee and Lusha Zhang

BEIJING (Reuters) – The toll from a new virus in China rose to six deaths and more than 300 cases on Tuesday as millions of Chinese prepared to travel for the Lunar New Year, heightening contagion risks.

Many in China scrambled to buy face masks to protect themselves from the previously unknown, flu-like coronavirus infection and airports around the world tightened screening.

The outbreak, which began in the central Chinese city of Wuhan, also worried financial markets as investors recalled the economic damage from China’s Severe Acute Respiratory Syndrome (SARS) epidemic in 2002/2003 that it initially covered up.

The SARS coronavirus outbreak killed nearly 800 people then.

“We’ll stay at home during the holiday. I’m scared as I remember SARS very well,” said Zhang Xinyuan, who had been bound from Beijing for the Thai resort of Phuket before she and her husband decided to cancel their air tickets.

Authorities have confirmed more than 300 cases of the new coronavirus in China, mostly in Wuhan, a provincial capital and transportation hub, where it may have come from a seafood market.

Symptoms include fever, coughing and difficulty in breathing, and the viral infection can cause pneumonia.

Wuhan mayor Zhou Xianwang told Chinese state television on Tuesday six people had died in his city. The disease was spreading further around other parts of China, however, including five cases in the national capital Beijing.

Fifteen medical personnel are among those infected.

Abroad, Thailand has reported two cases and South Korea one, all involving Chinese from Wuhan. Japan and Taiwan also confirmed one case each, both nationals who had been to Wuhan.

The World Health Organization (WHO) will hold a meeting on Wednesday to consider whether the outbreak is an international public health emergency.

MEDICS AND MARKETS ALARMED

“Information about newly reported infections suggest there may now be sustained human-to-human transmission,” said WHO’s regional director for the western Pacific, Takeshi Kasai.

Taiwan, the self-ruled island that China claims as its own, set up an epidemic response center. More than 1,000 beds were prepared in isolation wards in case the virus spreads further.

North Korea was to temporarily ban foreign tourists, who are mainly Chinese, a foreign tour operator said.

The scare stirred risk aversion on global markets, with Asia particularly hit.

Hong Kong, which suffered badly during the SARS outbreak, saw its index fall 2.8% <.HSI>. Japan’s Nikkei <.N225> lost 0.9% and Shanghai blue chips <.CSI300> 1.7%, with airlines under pressure.

In Europe, shares of luxury goods makers, which have large exposure to China, were among those declining the most.

China’s yuan fell almost 0.7% in offshore trading to 6.9126 per dollar <CNH=D3>. Onshore, it dipped to its lowest in over a week at 6.9094 <CNY=CFXS>.

Though the origin of the virus has yet to be identified, WHO said the primary source was probably animal. Chinese officials have linked the outbreak to Wuhan’s seafood market.

MORE SCREENING AND MASKS

“The outbreak of a SARS-like coronavirus in Wuhan is developing into a major potential economic risk to the Asia-Pacific region now that there is medical evidence of human-to-human transmission,” said Rajiv Biswas, Asia Pacific Chief Economist for IHS Markit.

So far, the WHO has not recommended trade or travel restrictions but they may be discussed on Wednesday.. China’s National Health Commission is also scheduled to give an update at a press briefing at 10 a.m. (0200 GMT) on Wednesday.

Airports in the United States, Australia and across Asia have begun extra screening for passengers from Wuhan.

In the city itself, officials have been using infrared thermometers to screen passengers at airports, railway stations and other passenger terminals since Jan. 14.

The Lunar New Year is a major holiday for Chinese, many of whom travel to join family or have a foreign holiday.

Long lines formed to buy face masks in cities. Some online vendors limited sales of masks and hand sanitizers as demand surged.

Shanghai city’s market regulator warned it would punish speculators hoarding masks or other products used for preventing infectious diseases, according to the Shanghai Observer web publication.

Chinese travel booking platforms from Trip.com <TCOM.O> to Alibaba Group’s <BABA.N> Fliggy said they would offer free cancellations on bookings made for Wuhan, while South Korean budget airline T’way Air <091810.KS> postponed its launch of a new route to the city.

Zhong Nanshan, head of the National Health Commission’s team investigating the outbreak, sought to ease alarm, saying in footage shown by state television there was no danger of a repeat of the SARS epidemic so long as precautions were taken.

(Reporting by Brenda Goh in Shanghai, Se Young Lee, Sophie Yu, Lusha Zhang, Huizhong Wu and Judy Hua in Bejing, John Geddie in Singapore; Josh Smith in Seoul; Kate Kelland in London; Writing by Andrew Cawthorne; Editing by Angus MacSwan)

Scientists Find Possible Origin Of SARS Virus

Researchers announced they have found two bat viruses closely related to SARS.

The scientists said that the viruses infect cells in the same manner that SARS infects human cells. The discovery suggests that SARS originated in bats and transfer directly into humans rather than through some intermediary animal.

The bat viruses are 95% genetically matched to SARS and could lead to rapid development of vaccines and drugs to combat the deadly disease.

The SARS outbreak between November 2002 and July 2003 resulted in more than 8,000 worldwide cases with 770 deaths. The virus was a forerunner of the MERS virus that was discovered in the middle east that has a mortality rate close to 43%.

The World Health Organization has declared MERS a “threat to the entire world.”

WHO urges vigilance over SARS-like virus

By blade
Created 16/02/2013 – 22:57

The World Health Organisation on Saturday urged countries to be vigilant over  the spread of a potentially fatal SARS-like virus after a new case in Britain  brought the global number to 12.

“Based on the current situation and available information, WHO encourages all  Member States to continue their surveillance for severe acute respiratory  infections (SARI) and to carefully review any unusual patterns,” the United  Nations health agency said in a statement. Continue reading →

UK Finds New SARS-Like Virus Can Spread Between Humans

The new coronavirus found in the Middle East that is very similar to the SARS virus that killed 800 people in 2002 has been found to be spread from human to human.

Health officials in the UK made the announcement after a third British citizen was confirmed to be infected with the virus. The scientists say the infected man contracted the disease from a relative. Continue reading →