Oil prices fall on demand recovery fears, OPEC+ easing expectations – ZAWYA

Oil prices fall on demand recovery fears, OPEC+ easing expectations – ZAWYA

Oil prices fall on demand recovery fears, OPEC+ easing expectations | ZAWYA MENA Edition HomeMarketsCommoditiesArticleOil prices fall on demand recovery fears, OPEC+ easing expectations U.S. West Texas Intermediate crude futures slid 51 cents, or 1.27%, to $39.59 a barrel    Image used for illustrative purpose. Joint stock company Mozyr Oil Refinery is pictured near the town of Mozyr, Belarus January 4, 2020. MELBOURNE/SINGAPORE - Oil prices fell on Tuesday on worries that new clampdowns on businesses to stem surging U.S. coronavirus cases could threaten fuel demand recovery and expectations that OPEC+ might ease output cuts from August in an upcoming meeting.U.S. West Texas Intermediate (WTI) crude futures slid 51 cents, or 1.27%, to $39.59 a barrel by 0653 GMT, while Brent crude futures fell 43 cents, or 1.01% to $42.29. Both benchmarks lost more than 2% in Asia morning trading before trimming loses.California's governor on Monday ordered bars to shut and restaurants, movie theatres, zoos and museums to cease indoor operations as coronavirus cases and hospitalizations soared. U.S. West Texas Intermediate (WTI) crude futures slid 51 cents, or 1.27%, to $39.59 a barrel by 0653 GMT, while Brent crude futures fell 43 cents, or 1.01% to $42.29. Both benchmarks lost