Oil dips amid worry about supply glut
Brent falls after an unexpected increase in US stocks, while a spike in Covid-19 cases fuels fear of slower recovery in fuel demand
Tokyo — Oil prices eased on Wednesday after a surprise build-up in US crude stockpiles stoked concern about a global supply glut even as a spike in global Covid-19 cases fuelled the fear of slower recovery in fuel demand.
Brent crude futures for December delivery were at $42.93 a barrel, down 23c, or 0.5%, at 3.32am GMT, while December US West Texas Intermediate (WTI) crude futures slipped 20c, or 0.5%, to $41.50 a barrel. Both benchmarks rose in the previous session...