Oil extends loss as US pipeline reopens
Brent crude oil futures fall on concerns of US inflation and India demand
14 May 2021 - 08:44
Singapore — Oil prices fell on Friday after dropping about 3% a day earlier as coronavirus cases remained high in major oil consumer India and as a key fuel pipeline in the US resumed operations after being shut due to a cyber attack.
Brent crude oil futures were down 26c, or 0.4%, at $66.79 a barrel at 12am GMT, while West Texas Intermediate (WTI) was down 20c, or 0.3%, at $63.62 a barrel. Both prices are heading for their first weekly loss in three weeks...
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