Seoul — Oil prices fell on Wednesday as data showed an increase in US crude and fuel inventories, raising the prospect of oversupply as a potential second wave of the coronavirus pandemic threatened to halt any recovery of demand.

Brent crude futures were down 89c, or 2.2%, at $40.07 a barrel as of 3.48am GMT, and US West Texas Intermediate (WTI) futures fell $1.13, or 2.9%, to $37.25 a barrel...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now