According to Iran’s semiofficial ILNA news agency, a member of parliament from the city of Qom said that a staggering 50 people have died in the Iranian city of Qom from the new coronavirus this month.

Last hour, Reuters quoted an Iranian official, saying that 12 deaths and up to 61 infected with the China coronavirus outbreak.

Oil’s downward spiral extends

Amid mounting oil demand concerns, with the virus outbreak spreading rapidly across the globe, oil prices are accelerating the downside, shedding nearly 4% on a daily basis.