Oil prices dip as virus concerns weigh on demand hopes - Reuters

Oil prices dip as virus concerns weigh on demand hopes - Reuters:

Oil prices slipped on Thursday, weighed down by concerns that surging coronavirus infections around the globe could jeopardize a recovery in fuel demand just as major oil producers are set to raise output.

The most-active Brent crude contract for October fell 2 cents, or 0.05%, to $44.07 a barrel at 0555 GMT. The September Brent contract, which is expiring on Friday, fell 7 cents to $43.68 in light trading.


U.S. West Texas Intermediate (WTI) crude futures were down 5 cents at $41.22 a barrel.

Both benchmark contracts rose on Wednesday after the U.S. Energy Information Administration (EIA) reported the largest one-week fall in crude stocks since December.