Oil prices fell today after rising 10% in the session as the coronavirus epidemic knocked the outlook for demand and Moscow rejected an intervention by U.S. President Donald Trump in Russia’s price war with Saudi Arabia.

Brent crude futures LCOc1 were down 32 cents, or 1.1%, at $28.15 a barrel by 13:31 GMT.

Brent is on track for a weekly loss of more than 16% and its fourth consecutive weekly decline.

U.S. crude futures for April CLc1 fell 72 cents, or 2.8%, to $24.50. The front-month contract expires on Friday. The more active U.S. crude contract for May CLc2 was down 70 cents, or 2.7%, at $25.21.