Oil prices fall further on virus fears, U.S. crude stock build – ZAWYA

Oil prices fall further on virus fears, U.S. crude stock build – ZAWYA

Oil prices fall further on virus fears, U.S. crude stock build Oil prices fall further on virus fears, U.S. crude stock build | ZAWYA MENA Edition HomeMarketsCommoditiesArticleOil prices fall further on virus fears, U.S. crude stock build Wednesday's selloff came after U.S. government data showed crude stockpiles rose by 1.4 million barrels    Image used for illustrative purpose. A general view shows Mexican state oil firm Pemex's Cadereyta refinery, in Cadereyta, Mexico October 5, 2019. PMELBOURNE/SINGAPORE: Oil prices slipped on Thursday, extending losses of more than 5% in the previous session, weighed down by record high U.S. crude inventories and worries that a rapid resurgence in COVID-19 cases could choke a revival in fuel demand.U.S. West Texas Intermediate (WTI) crude CLc1 futures fell 26 cents, or 0.7%, to $37.75 per barrel at 0245 GMT on Thursday, after dropping $2.36 on Wednesday.Brent crude futures LCOc1 fell 30 cents, or 0.7%, to $40.01 per barrel after falling $2.32 on Wednesday. A day earlier, the benchmark contract hit its highest price since early March, just before pandemic lockdowns and a Saudi-Russian price war slammed markets.U.S. West Texas Intermediate (WTI) crude CLc1 futures fell 26 cents, or 0.7%, to $37.75 per barrel at 0245