Oil prices bounce back on tight inventories, demand worries limit gains – Reuters

Oil prices bounce back on tight inventories, demand worries limit gains – Reuters

SINGAPORE, Nov 16 (Reuters) - Oil prices slipped on Tuesday as a rebound in COVID-19 cases in Europe raised concerns over demand amid expectation that supply will rise, while some in the market still fear the United States may release crude reserves to stop a rally in gasoline prices.

Brent futures fell 9 cents, or 0.1%, to $81.96 a barrel, as of 0105 GMT, while U.S. West Texas Intermediate (WTI) crude slid 10 cents, or 0.1%, to $80.78 a barrel.

Europe has again become the epicentre of the COVID-19 pandemic, prompting some governments to consider re-imposing lockdowns, while China is battling the spread of its biggest outbreak caused by the Delta variant. read more