Oil inches lower on concerns over Covid-19 surge in India, Japan

TOKYO: Oil prices eased slightly on Monday on concerns that a resurgence of coronavirus infections in India and Japan, the world’s third and fourth largest oil importers, would cut fuel demand in Asia.

Brent crude futures fell 8 cents, or 0.1 per cent, to $66.03 a barrel by 0058 GMT, following a 1.1 per cent rise on Friday. U.S. West Texas Intermediate (WTI) crude futures were down 4 cents, or 0.1 per cent, at $62.10 a barrel, after rising 1.2 per cent on Friday.