The sell-off in oil isn’t ‘entirely comparable’ to what happened with SARS - energy analyst.

CNBC reports that according to an energy analyst, there's a "bear stampede" in the oil market as a new coronavirus spreads, but that may not be directly comparable to the sell-off in 2003 associated with the outbreak of severe acute respiratory syndrome (SARS).

Oil futures slid for a sixth session on Tuesday amid reports of a rising number of cases and casualties.

"It is based on a lot of fear and panic," Vandana Hari, founder and CEO of energy markets consultancy Vanda Insights, told CNBC's "Capital Connection". "That fear and panic will probably not die down anytime soon."

"It's natural, very human to ... hark back to SARS," she said. "However, when it comes to the oil market, I don't think it's entirely comparable."

Energy prices also slumped during the SARS outbreak in 2003. But she said there was "another, much bigger influence" in the oil market back then - the U.S. invasion of Iraq.

The novel coronavirus also appears to be less severe, she said, noting that the virus has not spread the way SARS did outside of China.

While Hari called the fall in oil prices "premature" and "overdone," she also said there were "bearish leanings" in the market before the outbreak began. That includes the dying down of U.S.-Iran tensions and a mild winter, she said.