US crude drops as coronavirus cases spike globally
NEW YORK: Oil prices fell on Monday as new coronavirus infections hit the United States and China, feeding worries that renewed lockdowns could hamper economic recovery and dent fuel demand.
US West Texas Intermediate crude fell 35 cents, or 1 per cent, to $35.91 a barrel. Brent crude rose 6 cents to $38.61 a barrel by 11:27 a.m. EDT (1506 GMT).
More than 25,000 new were reported on Saturday alone in the United States, where more than 2 million people have been infected, about a quarter of the cases worldwide.
