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Oil deepened a three-day rout as panic over a coronavirus outbreak in the U.S. gripped investors and sent shockwaves through commodity, equity and debt markets.

Oil extended its rebound above $50 a barrel as tentative signs that Asia’s coronavirus may be easing spurred speculation that the worst of crude’s sell-off could have passed.

Oil traders and sellers are making more inquiries for supertankers to hoard crude at sea in the latest indication of the crushing impact the coronavirus is having on demand in the world’s biggest importer.

Canadian crude rebounded from a one-year low after inventories fell and Alberta’s premier pledged to defend prices.

Though oil slid to an eight-week low, the drop was tempered by an unexpected decline in U.S. crude inventories and as the World Health Organization opted against declaring the virus a global health emergency.

Canadian shipments of crude by rail are poised to surge next year, spurring investment in new export infrastructure.

RIYADH, Saudi Arabia — Saudi Arabia’s oil company Aramco gained 10% in its first moments on the stock market Dec. 11 in a dramatic debut that held until closing and pushed its value up to $1.88 trillion, surpassing Apple as the largest listed company in the world.

Alberta took a step toward easing the pain of its crude-production caps by allowing oil companies to exceed output limits if they ship the extra production by rail.

Petroleos Mexicanos’ head of crude oil trading Victor Briones and two other executives left the company amid a conflict over an external review of the nation’s crude price formulas, people familiar with the matter said.

More than two months and 20,000 kilometers (12,000 miles) ago, the tanker Da Yuan Hu left Singapore and headed to Mexico to pick up a shipment of crude oil. On Sept. 26, with less than two weeks to go until it reaches its destination, its long quest could be in jeopardy.