Oil falls in second straight session as virus cools demand


For Inquiry CALL or WHATSAPP – 8923973677

www.commodityraja.com

Oil prices fell for a second straight session on Monday as coronavirus cases rose in the United States and other places, leading countries to resume partial lockdowns that could hurt fuel demand.

Brent crude dropped 66 cents, or 1.6%, to $40.36 a barrel by 1150 GMT while U.S. crude was at $37.86, down 63 cents, or 1.6%.

Brent crude is set to end June with three consecutive monthly gains as OPEC+ supply cuts and as oil demand improved after countries across the globe eased lockdown measures.

However, global coronavirus cases exceeded 10 million on Sunday as India and Brazil battled outbreaks of over 10,000 cases daily. New outbreaks are reported in countries including China, New Zealand and Australia, prompting governments to impose restrictions again.

For Inquiry CALL or WHATSAPP – 8923973677

www.commodityraja.com

Leave a Reply

Your email address will not be published. Required fields are marked *