Oil prices slide as virus surge weighs on demand outlook - Reuters

Oil prices slide as virus surge weighs on demand outlook - Reuters:

Oil prices fell on Thursday, as surging coronavirus infections around the world threatened to jeopardise a recovery in fuel demand just as major oil producers are set to raise output.

The most-active Brent crude contract for October fell 51 cents, or 1.2%, to $43.58 a barrel at 0907 GMT. The September Brent contract, which is expiring on Friday, fell 56 cents to $43.19 a barrel.

U.S. West Texas Intermediate (WTI) crude futures were down 60 cents, or 1.5%, at $40.67 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.