Oil prices eased on Friday but stayed within touching distance of nine-month highs hit in the previous session as soaring Covid-19 cases weigh on fuel demand and US lawmakers battle over a $900 billion economic stimulus package.
US West Texas Intermediate (WTI) crude futures slipped 17 cents or 0.4 per cent, to $48.19 a barrel at 0513 GMT, while Brent crude futures fell 26 cents, or 0.5 per cent, to $51.24 a barrel.
More than 73.65 million people have been reported to be infected by the novel coronavirus globally and 1,654,920 have died, according to a Reuters tally on Friday.
The spike in cases is leading to tough restrictions on travel, weighing on near-term fuel demand and market sentiment, analysts said.
