Oil falls 3% on fuel demand concerns as Europe widens Covid-19 lockdowns


SINGAPORE, Nov 2 (Reuters): Oil prices fell more than 3% on Monday on worries that widening coronavirus lockdowns across Europe will weaken fuel demand, and as traders braced for turbulence during the US presidential election week.

Brent crude futures for January dropped US$1.34, or 3.5%, to US$36.60 a barrel by 0410 GMT, while US West Texas Intermediate futures fell US$1.41, or 3.9%, to US$34.38.

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Oil , Slipping , Fuel Demand , Big Concern , Covid-19 , Lockdowns

   

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