Oil drops 1% as Covid-19 vaccine halt threatens demand

Oil prices fell for a third day on Tuesday, as Germany, France and other European states suspended the use of a major coronavirus vaccine, threatening the recovery of fuel demand.

Brent was down 59 cents, or 0.9%, to $68.29 a barrel by 12:52 pm EDT (1652 GMT). US crude fell 75 cents, or 1.2%, to $64.64 a barrel.

Earlier this month, Brent reached its highest since early 2020, while US crude hit a 2018 high.