Oil falls further as rising cases fuel demand worries
A surge in Covid-19 infections in the US and Europe prompt concern over crude demand, while the chance of increased supply also hit sentiment
26 October 2020 - 08:02
Tokyo — Oil extended last week’s losses on Monday, falling almost 2% as a surge in Covid-19 infections in the US and Europe prompted concern over crude demand, while the prospect of increased supply also hit sentiment.
Brent crude was down 70c, or 1.7%, at $41.07 by 3.53am GMT. US West Texas Intermediate (WTI) dropped 69c, or 1.7%, to $39.16, having fallen more than a dollar shortly after the start of trading...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.