Oil falls further amid growing alarm over coronavirus second wave

TOKYO: Oil futures fell further on Wednesday after big declines the previous session with Brent sliding below $40 a barrel for the first time since June as COVID-19 cases rebounded in several countries.

The biggest global health crisis in a century continues to flare unabated with cases rising in India, Great Britain, Spain and several parts of the United States, where the infection rate has not come under control for months.

The outbreak is threatening hopes for a global economic recovery that could impact demand for fuels from aviation gas to diesel.