Oil falls as Covid-19 cases surge; investors cautious ahead of US polls
Oil prices fell on Tuesday as Europe and the United States grappled with a surge in new coronavirus infections and investors were cautious ahead of the first US presidential debate.
Brent’s November contract, which expires on Wednesday, fell 28 cents, or 0.7 per cent, to $42.15 per barrel by 0921 GMT. The more-active Brent crude for December fell 31 cents, or 0.7 per cent, to $42.56 a barrel.
US West Texas Intermediate (WTI) crude dropped 32 cents, or 0.8 per cent, to $40.28 a barrel.
More than one million people have died of Covid-19 worldwide as of Tuesday, according to a Reuters tally, a bleak milestone in a pandemic that has devastated the global economy and fuel demand.
