Oil slips on tightening COVID-19 curbs, especially in China
MELBOURNE: Oil prices slid in early trade on Thursday on fresh worries about weakened fuel demand, after England clamped down on travel and China, the world’s second-largest oil consumer, also sought to limit Lunar New Year trips to stem a surge in COVID-19 cases.
U.S. West Texas Intermediate (WTI) crude futures fell 12 cents, or 0.1%, to $52.72 a barrel at 0228 GMT, erasing some of Wednesday’s gain.
Brent crude futures fell 16 cents, or 0.3%, to $55.65 a barrel, after losing 10 cents on Wednesday.
