Oil prices slip amid uncertainty over fuel demand, easing supply curbs - Reuters

Oil prices slip amid uncertainty over fuel demand, easing supply curbs - Reuters:

Oil prices slipped on Friday amid growing uncertainty about the global recovery in fuel demand as coronavirus cases surged in several countries, while major producers were set to ease output curbs.

Brent crude futures LCOc1 fell 26 cents to $43.11 a barrel by 0822 GMT. U.S. West Texas Intermediate (WTI) crude CLc1 dropped 23 cents to $40.52.


The United States reported at least 75,000 new COVID-19 cases on Thursday, a daily record. Spain and Australia reported their steepest daily jumps in more than two months, while cases continued to soar in India and Brazil.

Surges in coronavirus infections are slowing a recovery in fuel use and raising concern that it could be years before consumption rebounds from the impact of the pandemic.