Oil slips as gloom grows over soaring COVID-19 cases, lockdowns

Covid-19 cases

Oil prices fell on Tuesday, adding to losses from the previous session that came as California tightened its pandemic lockdown through Christmas and coronavirus cases continued to surge in the United States and Europe. Brent crude futures fell 40 cents, or 0.8 per cent, to $48.39 a barrel at 0455 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 35 cents or 0.8 per cent, to $45.41 a barrel. Both benchmark contracts lost around 1 per cent on Monday, reports Reuters. Globally, a sharp rise in coronavirus cases has…

Read more