Oil falls as US stimulus squabbles, coronavirus surges sour mood

TOKYO: Oil prices dropped on Tuesday as the prospects for the rapid approval of new US economic stimulus waned while increasing new coronavirus infections raised questions over the pace of any recovery in demand.

Brent crude was down 28 cents, or 0.5%, at $55.60 by 0747 GMT, while U.S. crude fell 26 cents, or 0.5%, to $52.51. Both rose nearly 1% on Monday.