Oil falls on rise in U.S. crude stocks, virus resurgence fears

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Oil prices retreated on Wednesday, weighed down by an increase in U.S. crude inventories and worries about a potential second wave of the coronavirus pandemic.

FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant

However, the rise in U.S. crude and fuel inventories, reported in post-settlement trade, stoked concerns over high supplies and put downward pressure on oil prices. Official data from the U.S. Department of Energy’s Energy Information Administration is due later on Wednesday.

 

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p99o

Funny the virus rises same time they take away the malaria drug that worked now saying its dangerous just in time to introduce the life saving vaccine that they openly said will track “the virus”.....

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Asian stocks, oil fall as second wave fears growAsian shares stumbled on Monday and oil prices slipped as fears of a second wave of coronavirus infections in Beijing sent investors scurrying for safe-havens while underwhelming data from China further weighed on sentiment. I am afraid that the second pandemic wave also would be rise from the ground.
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