Oil down to new low as petrol demand is weak
Upcoming refinery maintenance in the US will also hurt crude demand, and Iraq denies it is looking for exemption from Opec+ supply cuts
03 September 2020 - 12:05
London — Oil prices extended losses on Thursday, falling to their lowest point since early August, as worries about weaker US petrol demand and a sluggish economic recovery from the Covid-19 pandemic dented sentiment.
Brent crude fell 79c, or 1.8%, to $43.64 a barrel by 8.45am GMT. US West Texas Intermediate (WTI) crude futures were down 67c, or 1.6%, at $40.84 a barrel...
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