Oil prices dipped on Monday as rising coronavirus cases upset hopes for a smooth recovery in fuel demand, with the main crude benchmarks on track for their first monthly falls in multiple months after slipping last week.
Brent crude fell 37 cents, or 0.9 per cent, to $41.55 a barrel by 0652 GMT after dropping 2.9 per cent last week. US West Texas Intermediate was at $39.86 a barrel, down 39 cents or 1 per cent, following a 2.1 per cent decline last week.
Brent is on track to fall for the first month in six while WTI is headed for its first monthly loss since April as the reimposition of mobility curbs in some countries clouds the outlook on fuel demand recovery.
