Oil slips as U.S. virus spike stokes demand worries - Reuters

Oil slips as U.S. virus spike stokes demand worries - Reuters:

Oil prices edged lower on Tuesday amid concerns that a surge in new coronavirus cases, especially in the United States, will hamper any recovery in fuel demand. 

Brent crude futures declined by 7 cents, or 0.16%, to $43.03, by 1404 GMT, after hitting a session low of $42.46. U.S. West Texas Intermediate (WTI) crude futures fell 12 cents, or 0.30%, to $40.51 a barrel, having fallen to $39.90 earlier in the day.

#“Oil prices are lower today on concerns that the surge in coronavirus cases in the U.S. will limit a recovery in fuel demand,” bank RBC said.

#Sixteen U.S. states have reported record increases in new COVID-19 cases in the first five days of July, according to a Reuters tally.