Concern about falling demand drags oil price down
Some European countries are reviving curfews and lockdowns to fight a surge in Covid-19 cases, with the UK imposing tougher restrictions on Friday
16 October 2020 - 14:14
London — Oil prices fell on Friday, dragged down by concerns that a spike in Covid-19 cases in Europe and the US was curtailing demand in two of the world’s biggest fuel-consuming regions, while a stronger dollar also pressured prices.
Brent crude futures for December dropped 60 US cents, or 1.4%, to $42.56 a barrel by 10.17am GMT and US West Texas Intermediate (WTI) crude futures for November delivery slid 51c, or 1.3%, to $40.45...
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