Oil falls, heads for weekly decline as virus cases hit record – ZAWYA

Oil falls, heads for weekly decline as virus cases hit record – ZAWYA

Oil falls, heads for weekly decline as virus cases hit record | ZAWYA MENA Edition HomeMarketsCommoditiesArticleOil falls, heads for weekly decline as virus cases hit record Brent crude was down by 25 cents, or 0.6%, at $42.10 a barrel    Image of gas station used for illustrative purpose.TOKYO  - Oil prices fell on Friday, adding to steep losses from the previous session, and were headed for weekly declines on worries that renewed lockdowns following a surge in coronavirus cases in the United States and elsewhere would suppress fuel demand.Brent crude was down by 25 cents, or 0.6%, at $42.10 a barrel by 0341 GMT after falling more than 2% on Thursday. U.S. oil fell 33 cents, or 0.8%, at $39.29 a barrel after a drop of 3% in the previous session.Brent looks set for a weekly decline of nearly 2% and U.S. crude for a fall of more than 3%. Trading was quiet with Singapore on holiday for an election. Brent crude was down by 25 cents, or 0.6%, at $42.10 a barrel by 0341 GMT after falling more than 2% on Thursday. U.S. oil fell 33 cents, or 0.8%, at $39.29 a barrel after a drop of 3% in