Demand concerns take their toll on oil
An unexpected increase in US inventories fuels worry about slow demand, but positive vaccine news boosts investor optimism
09 December 2020 - 08:06
Tokyo — Oil prices eased on Wednesday as an unexpected jump in US oil inventories fuelled the concern over slow demand, but positive news on Covid-19 vaccines boosted investor optimism about a recovery in fuel demand, capping losses.
Brent crude futures slipped 18c, or 0.4%, to $48.66 a barrel by 4.50am GMT, having gained 5c the previous day. US West Texas Intermediate (WTI) crude futures dropped 15c, or 0.3%, to $45.45, after shedding 16c on Tuesday...
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