Oil falls on growing fears of coronavirus second wave - Reuters

Oil falls on growing fears of coronavirus second wave - Reuters:

Oil prices fell on Monday as new coronavirus infections hit China, Japan and the United States, adding to concerns that a resurgence of the virus could hamper a recovery in fuel demand.

Brent crude was down 38 cents, or 1%, at $38.35 a barrel by 1154 GMT. U.S. West Texas Intermediate crude was down 66 cents, or 1.8%, at $35.60.

“A fresh wave of cases will certainly raise worries that a recovery in demand may take even longer than initially thought,” said ING’s head of commodities strategy, Warren Patterson.

After nearly two months with no new infections, Beijing officials have reported 79 coronavirus cases over the past four days.