India COVID surge drives oil prices down for second straight day
Al Jazeera
India, the world’s third-largest oil user, has seen record numbers of new COVID cases and deaths recently.
Oil prices have fallen for a second day on concerns that soaring COVID-19 cases in India will drive down fuel demand in the world’s third-biggest oil importer. Brent crude futures for June fell 52 cents, or 0.8 percent, to $66.05 a barrel at 01:57 GMT on Wednesday, after dropping 48 cents on Tuesday. United States West Texas Intermediate (WTI) crude futures for June fell 56 cents, or 0.9 percent, to $62.11 a barrel. The May contract expired on Tuesday down 1.5 percent at $62.44.
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