Oil loses Tuesday’s gains as fears of a supply glut persist
Energy companies and ports along the US Gulf Coast have prepared Hurricane Zeta
28 October 2020 - 12:06
London — Oil prices went into reverse on Wednesday, giving up the previous day’s gains as a surge in US crude stocks and rising coronavirus infections in the US and Europe fanned fears of a supply glut and weaker fuel demand.
Brent crude futures were down $1.20, or 2.9%, at $40 a barrel by 9.20am GMT, having climbed nearly 2% on Tuesday. US crude was down $1.49, or 3.7%, at $38.08 after a 2.6% jump the previous day...
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