Oil rally ends on fears new coronavirus cases will hit demand
Brent and US crude slide as the oil benchmarks head for weekly declines
12 June 2020 - 07:50
Tokyo — Oil prices fell on Friday, extending heavy overnight losses as a surge in US coronavirus cases this week raised the prospect of a second wave of the Covid-19 outbreak hitting demand in the world’s biggest consumer of crude and fuel.
West Texas Intermediate was down 65c, or nearly 2%, at $35.69 a barrel by 3.58am GMT, after slumping more than 8% on Thursday. Brent crude was down 58c, or 1.5%, at $37.97 a barrel, having dropped nearly 8% the previous session...
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