Oil falls more than 2% as Covid-19 infections raise demand concerns
TOKYO: Oil NSE -0.67 % fell more than 2% on Monday, extending last week’s losses as growing cases of COVID-19 in the United States and Europe raised worries about crude demand, while the prospect of increased supply also hurt sentiment.
Brent crude was down 89 cents, or 2.1%, at $40.88 by 0647 GMT. U.S. West Texas Intermediate (WTI) dropped 89 cents, or 2.2%, to $38.96, having fallen more than a dollar shortly after the start of trading.
