- WTI dropped 0.6% to $59.42 a barrel at 9:49 a.m. in London.
- Brent lost 0.4% to $62.94 a barrel
Oil fell as bearish virus news from India to Japan underpinned the outlook for a staggered recovery in consumption.
West Texas Intermediate slid 0.6%, though remains within the $5 range it has traded in since mid-March. India, the world’s No. 3 oil importer, reported a record number of daily coronavirus cases, with states facing a vaccine shortage. In Ontario, officials issued a stay-at-home advisory, while the Tokyo government is weighing stricter curbs as a more contagious variant spreads.
West Texas Intermediate slid 0.6%, though remains within the $5 range it has traded in since mid-March. India, the world’s No. 3 oil importer, reported a record number of daily coronavirus cases, with states facing a vaccine shortage. In Ontario, officials issued a stay-at-home advisory, while the Tokyo government is weighing stricter curbs as a more contagious variant spreads.
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