Oil prices slipped on Tuesday as worries that lockdowns to fight a new surge in coronavirus cases could hit short-term demand outweighed hopes for a vaccine and the possibility of tighter OPEC+ supply policies.
Brent futures fell 38 cents, or 0.9 per cent, to $43.44 a barrel by 1:52 p.m. EST (1852 GMT), while U.S. crude fell 27 cents, or 0.7 per cent, to $41.07.
On Monday, Brent closed at a 10-week high following Moderna Inc’s announcement that its coronavirus vaccine was 94.5 per cent effective. That followed similar news from Pfizer Inc last week.
But the short-term economic outlook remains hazy with several European nations tightening restrictions as coronavirus cases increase.
