TOKYO (Reuters) – Oil prices extended losses to fall around 2% on Friday after U.S. President Donald Trump tested positive for the coronavirus, while a U.S. stimulus package eluded negotiators amid ongoing worries about demand.
Brent crude slipped on the news and was down 78 cents, or 1.9%, at $40.53 a barrel at 0516 GMT. U.S. oil was 79 cents, or 2%, lower at $37.93.
U.S. oil is heading for a drop of more than 5% this week, while Brent is on track to fall more than 4%, in a second consecutive week of decline for both contracts.
In a tweet, Trump said he and First Lady Melania Trump tested positive for COVID-19. Trump said earlier he had started a quarantine process after Hope Hicks, a top adviser, had returned a positive test.
