Oil prices drop on demand worries, rising supplies By Reuters – Investing.com

Oil prices drop on demand worries, rising supplies By Reuters – Investing.com

By Naveen Thukral

SINGAPORE (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.

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.