Oil slips slightly on rising coronavirus cases, returning Libyan supplies - Reuters:
Oil prices slipped on Tuesday as investors worried that rising COVID-19 cases would hurt demand while supply could rise with a potential resurgence of Libyan oil production, which has slowed to a trickle since the start of the year.
The more-active September contract for Brent LCOc2 was down 5 cents at $41.80 a barrel by 1:31 p.m. EST (1731 GMT), after gaining 92 cents in the previous session. The August contract LCOc1, which expires on Tuesday, fell 52 cents, or 1.2%, to $41.19. The contract has gained 16.5% this month so far, and 81% on the quarter.
U.S. crude CLc1 was up 25 cents, or 0.6%, at $39.95 a barrel. U.S. crude has risen 12.4% in the past month, up about 95% in the quarter, reflecting its recovery from late March.
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