Drop in oil casts doubts on market’s recovery as coronavirus infections rise
Brent crude and US oil fall nearly 1% after declining in the previous session
18 January 2021 - 07:56
Tokyo — Oil prices fell on Monday, extending losses that last week ended a rally driven by production cuts and strong Chinese demand, with the market’s recovery outlook being called into question as coronavirus infections rise.
Brent crude had fallen 45c, or nearly 1%, to $54.65 a barrel by 4.07am, after dropping 2.3% on Friday. US oil was down by 43c, also nearly 1%, at $51.93 a barrel, having declined 2.3% in the previous trading session...
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