Oil prices reverse some losses but demand concerns persist

LONDON: Oil NSE 0.59 % futures clawed back some of the losses they sustained in the previous session, but a rebound in Covid-19 cases in some countries undermined hopes for a steady recovery in global demand.

Brent crude was up 20 cents, or 0.5 per cent, at $39.98 a barrel by 1119 GMT after dropping more than 5 per cent on Tuesday to fall below $40 a barrel for the first time since June.