Oil falls as US fiscal package faces tough talks
NEW YORK: Oil prices fell around 1% on Tuesday, as US lawmakers prepared to wrangle over an economic stimulus package and investors worried about a rise in coronavirus cases worldwide.
Brent crude futures fell 26 cents, or 0.6%, to $43.15 a barrel by 11:20 a.m. EDT (1520 GMT), while US West Texas Intermediate (WTI) crude futures fell 62 cents, or 1.5%, to $40.98 a barrel.
US Republicans unveiled a new coronavirus relief proposal on Monday, four days before millions of Americans lose expanded unemployment benefits. On Tuesday, they faced difficult talks with Democrats on how best to recover from the coronavirus pandemic.
