The sun sets behind an oil pump outside Saint-Fiacre, near Paris, France. File photo: REUTERS/Christian Hartmann
Brent crude futures were down 29c, or 0.7%, at $42.85 a barrel at 3.39am GMT, and US West Texas Intermediate crude futures fell 31c, or 0.8%, to $40.34 a barrel. However, increases in the daily cases of the coronavirus, globally and in the US, put pressure on prices. New US Covid-19 cases rose by more than 50,000 on Thursday, setting a record for a third consecutive day, according to a Reuters tally.
Should the number of coronavirus cases continue to grow and increase the need to take stronger measures to stem the spread of the virus, the weakened growth implications of such policies could weigh on crude oil prices, he said.
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Oil traders disappointed after taking a bite of Apple’s mobility dataThe much-heralded index relies on search information instead of kilometres travelled
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Oil falls as traders fret about demandA surge in US Covid-19 cases and a return to lockdown in California has stoked fears that consumption will falter
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