7/27, 9:57 AM (Source: TeleTrader)
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Oil trades lower on rising COVID-19 worries

Crude futures traded lower on Monday as rising coronavirus cases fueled fresh fears of new lockdowns and their negative impact on oil demand.

China reported its largest jump in daily COVID-19 infections in three months, while Spain, France and the United Kingdom strengthened restrictions once again in an effort to fight the spread of the disease amid fears of a second wave.

Brent for September delivery fell 0.44% to go for $43.14 per barrel at 3:45 am ET and West Texas Intermediate (WTI) for settlements in September lost 0.48% to sell for $41.09 per barrel at the same time.

Breaking the News / NP