Oil slides 5% to lowest since June on demand fears

Oil slides 5% to lowest since June on demand fears

LONDON (Reuters) - Oil slid five percent to below US$40 a barrel on Tuesday, its lowest since June, pressured by concerns that a demand recovery could weaken as coronavirus infections flare up around the world. Coronavirus cases rose in 22 of the 50 US states, a Reuters analysis showed on the Labor Day holiday weekend. “¦ Continued

The post Oil slides 5% to lowest since June on demand fears appeared first on Egypt Independent.LONDON (Reuters) - Oil slid five percent to below US$40 a barrel on Tuesday, its lowest since June, pressured by concerns that a demand recovery could weaken as coronavirus infections flare up around the world. Coronavirus cases rose in 22 of the 50 US states, a Reuters analysis showed on the Labor Day holiday weekend. “¦ Continued

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