EnergyWatch

Oil drops on rising infection rates in India

Covid-19 is flaring up in several countries, creating fear of new restrictions.

Photo: RICHARD CARSON/REUTERS / X01366

Crude prices drop slightly on Monday upon increased worry that a rising number of coronavirus infections in India and other countries might prompt stronger restrictive measures, impacting economic activity and demand for commodities such as oil.

A barrel of European reference crude Brent Monday morning costs USD 66.45 against USD 66.56 Friday afternoon. US West Texas Intermediate concurrently trades at USD 62.88 against USD 62.94.

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