KONTAN.CO.ID - LONDON. Oil prices fell on Wednesday as concerns about an upsurge in COVID-19 cases in China, the world's top oil importer, outweighed expectations easing pandemic restrictions would lead to economic recovery and growth in demand for fuel. Brent futures for February delivery fell 42 cents, or 0.5%, to $83.91 a barrel, by 1215 GMT. U.S. crude fell 32 cents, or 0.4%, to $79.21 per barrel. Both benchmarks fell by over $1 per barrel earlier in the session after rising to their highest in three weeks on Tuesday on expectations of a rise in fuel demand.
Oil Prices Fall on Worries About China COVID Surge
KONTAN.CO.ID - LONDON. Oil prices fell on Wednesday as concerns about an upsurge in COVID-19 cases in China, the world's top oil importer, outweighed expectations easing pandemic restrictions would lead to economic recovery and growth in demand for fuel. Brent futures for February delivery fell 42 cents, or 0.5%, to $83.91 a barrel, by 1215 GMT. U.S. crude fell 32 cents, or 0.4%, to $79.21 per barrel. Both benchmarks fell by over $1 per barrel earlier in the session after rising to their highest in three weeks on Tuesday on expectations of a rise in fuel demand.