Oil stumbles on new lockdowns to counter surging coronavirus numbers
Crude pared earlier vaccine rollout gains after Los Angeles county hit another record case high, analyst says
07 December 2020 - 08:03
Singapore — Oil prices fell on Monday as a continued surge in coronavirus cases globally forced a series of renewed lockdowns, including strict new measures in Southern California in the US, the world’s top oil consumer.
Brent crude oil futures were down 20c, or 0.4%, at $49.05 a barrel by 6.01am, while West Texas Intermediate oil futures fell 20c, or 0.4%, to $46.06 a barrel. Both benchmarks gained for a fifth consecutive week last week...
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