KONTAN.CO.ID - TOKYO. Oil fell more than 2% on Monday, extending last week's losses as growing cases of COVID-19 in the United States and Europe raised worries about crude demand, while the prospect of increased supply also hurt sentiment. Brent crude was down 89 cents, or 2.1%, at $40.88 by 0647 GMT. U.S. West Texas Intermediate (WTI) dropped 89 cents, or 2.2%, to $38.96, having fallen more than a dollar shortly after the start of trading. Brent fell 2.7% last week and WTI dropped 2.5%.
Oil falls more than 2% as Covid-19 infections raise demand concerns
KONTAN.CO.ID - TOKYO. Oil fell more than 2% on Monday, extending last week's losses as growing cases of COVID-19 in the United States and Europe raised worries about crude demand, while the prospect of increased supply also hurt sentiment. Brent crude was down 89 cents, or 2.1%, at $40.88 by 0647 GMT. U.S. West Texas Intermediate (WTI) dropped 89 cents, or 2.2%, to $38.96, having fallen more than a dollar shortly after the start of trading. Brent fell 2.7% last week and WTI dropped 2.5%.