Oil slips amid surge in Covid cases in the US and Europe
The rising number of infections has fanned the fear of a supply glut in oil and weaker fuel demand
28 October 2020 - 07:35
Tokyo — Oil prices slid about 2% on Wednesday, giving up most of the previous day’s gains, as a surge in US crude stocks and growing coronavirus infections in the US and Europe fanned the fear of a supply glut in oil and weaker fuel demand.
Brent crude was down 76c, or 1.8%, at $40.44 a barrel by 3.43am GMT, having climbed nearly 2% the previous day. US oil was down 90c, or 2.3%, at $38.67 a barrel, after gaining 2.6% on Tuesday...
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