Oil extends slide as virus milestone worsens outlook for demand

Oil fell on a negative outlook for demand as global coronavirus fatalities topped half a million and the U.S. recorded a record daily pace of infections.

Futures in New York slid as much as 1.9%, after declining 3.2% last week. U.S. and U.K. public health experts warned against lifting lockdowns too quickly amid a worrying rise in infection rates. Florida, one of the U.S. states reinstating measures to halt the spread, reported a 6.4% increase in infections, while Arizona topped its weekly average for a fourth day.

Read: A Second Wave of the Virus Is Threatening U.S. Oil Demand Again