Oil Falls As COVID-19 Case Surge Stokes Demand Concerns

Oil Falls As COVID-19 Case Surge Stokes Demand Concerns

Oil Falls As COVID-19 Case Surge Stokes Demand Concerns

Oil extended last week’s losses on Monday, falling nearly 2% as a surge in Coronavirus(COVID-19) infections in the United States(US) and Europe prompted concern over crude demand, while the prospect of increased supply also hit sentiment.

Brent crude LCOc1 was down 70 cents, or 1.7%, at $41.07 by 0353 GMT. U.S. West Texas Intermediate (WTI) dropped 69 cents, or 1.7%, to $39.16, having fallen more than a dollar shortly after the start of trading.

Brent fell 2.7% last week and WTI dropped 2.5%.

The United States(US) reported its highest number yet of new Coronavirus(COVD-19) infections in two days through Saturday, while in France new cases hit a record of more than 50,000 on Sunday, underlining the severity of the Coronavirus outbreak.

See more articles – https://21newslk.com/2020/10/26/mike-pompeo-in-india-on-first-leg-of-asia-trip/

” If COVID-19 is spreading in your community, stay safe by taking some ” simple precautions, such as physical distancing, wearing a mask, keeping rooms well ventilated, avoiding crowds, cleaning your hands, and coughing into a bent elbow or tissue. Check local advice where you live and work. Do it all! “

 

 

 

 

Oil Falls As COVID-19 Case Surge Stokes Demand Concerns

Oil extended last week’s losses on Monday, falling nearly 2% as a surge in Coronavirus(COVID-19) infections in the United States(US) and Europe prompted concern over crude demand, while the prospect of increased supply also hit sentiment.

Brent crude LCOc1 was down 70 cents, or 1.7%, at $41.07 by 0353 GMT. U.S. West Texas Intermediate (WTI) dropped 69 cents, or 1.7%, to $39.16, having fallen more than a dollar shortly after the start of trading.

Brent fell 2.7% last week and WTI dropped 2.5%.

The United States(US) reported its highest number yet of new Coronavirus(COVD-19) infections in two days through Saturday, while in France new cases hit a record of more than 50,000 on Sunday, underlining the severity of the Coronavirus outbreak.

See more articles – https://21newslk.com/2020/10/26/china-is-testing-millions-of-people-in-xinjiang-for-covid-19/

” If COVID-19 is spreading in your community, stay safe by taking some ” simple precautions, such as physical distancing, wearing a mask, keeping rooms well ventilated, avoiding crowds, cleaning your hands, and coughing into a bent elbow or tissue. Check local advice where you live and work. Do it all! “

 

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