Oil prices in longest losing streak since February 2020 | Reuters

Oil prices in longest losing streak since February 2020 | Reuters

Oil prices fell for a sixth day in their longest losing streak since February 2020, as a spike in COVID-19 cases worldwide fuelled fears of lower fuel demand while a surprise build in U.S. gasoline inventories and a stronger dollar added to the pressure.

Brent crude was down $1.11, or 1.6%, at $67.12 a barrel at 0639 GMT, after touching the lowest since May 24 at $67.06 earlier in the session.

U.S. West Intermediate crude (WTI) fell $1.35, or 2.1%, to $64.11 a barrel after falling to as low as $64.02, also the lowest since May 24.

WTI has dropped more than 7% while Brent has slumped more than 6% during the six-day losing streak, the longest since a six-day decline for both contracts that ended on Feb. 28, 2020.