NEW YORK: Oil prices fell 4% per barrel on Thursday, extending a string of market weakness on renewed lockdowns in Europe and Asia to head off a rising coronavirus infection rate.
Prices lost much of the gains from the previous session that followed news of a large container ship running aground in the Suez Canal. The ship has still not been freed, but for now the market was shrugging off the blockage, as only a small percentage of the world's crude is shipped through the canal.
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