Oil rally ends amid COVID-19 concerns, returning supply | Reuters
Oil fell on Thursday for the first session this week as renewed concerns about demand amid rising COVID-19 infections cut short a three-day rally, and as production returned in Mexico.
Brent crude was down 29 cents, or 0.4%, at $71.96 a barrel by 0649 GMT, having risen 1.7% on Wednesday.
U.S. oil was down 44 cents, or 0.6%, at $67.92 a barrel, after gaining 1.2% in the previous session.
The U.S. Energy Information Administration (EIA) reported that American crude inventories fell last week for a third consecutive week and overall fuel demand increased to the most since March 2020, boosting prices around 10% through Wednesday.
No comments:
Post a Comment