Crude oil prices fall as rise in virus cases, US inventories stall recovery
NEW YORK: Oil prices inched lower on Wednesday, as rising US crude inventories and an increase in US coronavirus infections put the brakes on a price recovery sparked by easing lockdowns.
Brent crude futures fell 19 cents to $42.89 a barrel by 11:23 AM EDT (1523 GMT). US West Texas Intermediate (WTI) crude futures fell 23 to at $40.39 a barrel.
Both benchmarks are set for a fourth session of daily percentage changes of less 1 per cent in either direction, shrugging off news that OPEC member Libya was adding to global supplies by reopening its Es Sider oil terminal for exports.
