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%, to $66.03 a barrel by 0058 GMT, following a 1.1% rise on Friday. USWest Texas Intermediate (WTI) crude futures were down 4 cents, or 0.1%, at $62.10 a barrel, after rising 1.2% on Friday.
Both benchmark crudes fell about 1% last week.
“Market sentiment was dented on worries that surging number of COVID-19 cases in some countries, especially in India, will slash fuel demand,” Kazuhiko Saito, chief analyst at commodities broker Fujitomi Co.
