Oil firms on drop in US stockpiles, but virus worries cap gains
Brent and WTI are up 1%, but a resurgent coronavirus in the US may lead to a drop in fuel demand
05 August 2020 - 11:39
London — Oil prices firmed on Wednesday after data showed a big drop in US crude inventories, though concerns that mounting coronavirus infections will lead to reduced fuel demand capped gains.
Brent crude was up 44c, or 1%, at $44.87 a barrel by 8.10AM GMT, while West Texas Intermediate oil rose 4c, or 1%, to $42.13 a barrel...
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