SINGAPORE, Dec 2 (Reuters) – Oil prices fell early on Wednesday but later pared some of the losses on news that Britain has become the first country in the world to approve a vaccine for use and that it will be rolled out from early next week.
Prices had been hit earlier by a surprise build in oil inventories in the United States and as OPEC and its allies left markets in limbo by delaying a formal meeting to decide whether to increase output in January.
Brent crude oil futures were down by 8 cents, or 0.2%, at $47.34 a barrel by 0743 GMT, while West Texas Intermediate crude was down by 14 cents, or 0.1%, at $44.41.
