Oil prices slip as surging COVID-19 cases overshadow vaccine hopes

TOKYO: U.S. crude futures fell in early trade on Thursday, giving up some of gains from the previous day as surging COVID-19 cases and widening lockdowns raised fears over fuel demand, offsetting further upbeat vaccine news.

U.S. West Texas Intermediate (WTI) crude futures were down 39 cents, or 0.9%, to $41.43 a barrel by 0039 GMT, after gaining nearly 1% on Wednesday. Brent crude was yet to trade, having risen 1.4% on Wednesday.