Despite rebounding to $60/bbl mid-month, worldwide cases of coronavirus saw Brent crude fall below $50/bbl for the first time since July 2017 on the final day of February.

GBP fell throughout the month, reaching a low of 1.274 against USD as UK/EU trade negotiations got off to a difficult start, with the UK prepared to abandon talks by June.

Although registered UK cases of coronavirus remain low, UK prices have felt the effects of weak international demand, falling c. 5 ppl in the final week of February alone.