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4/21, 11:39 AM (Source: TeleTrader)
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Oil prices lower amid coronavirus worries

Oil prices traded lower on Wednesday amid worries over rising coronavirus cases in India, where a deadly second wave of the pandemic sparked a hospital crisis. The higher infection rates have prompted worries in oil markets as India is the world’s third-largest crude importer.

In other news, the House Judiciary Committee in the US Congress passed a bill that would open the Organization of the Petroleum Exporting Countries (OPEC) to antitrust lawsuits.

Brent for June delivery was down 1.01% to $65.89 per barrel at 5:15 am ET. At the same time, West Texas Intermediate for June delivery fell 1.10% to $61.98 per barrel.

Breaking the News / JC