October 22, 2020
Business News

Oil edges lower as rising virus cases cloud demand recovery outlook – Investing.com

By Florence Tan
SINGAPORE (Reuters) – Oil prices dipped on Monday as rising coronavirus cases upset hopes for a smooth recovery in fuel demand, with the main crude benchmarks on track for their first monthly falls in multiple months after last week’s slips.
Brent crude (LCOc1) fell 23 cents, or 0.6%, to $41.69 a barrel by 0243 GMT after dropping 2.9% last week. U.S. West Texas Intermediate (CLc1) was at $40.04 a barrel, down 21 cents or 0.5%, following a 2.1% decline last week.
Brent is on …

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