Brent crude falls 2%, WTI below $39

26/10/2020 Argaam

Oil prices declined 2% on Monday as rising COVID-19 cases in the United States and Europe led to concerns about the speed of demand recovery.

 

Brent crude was trading down 2% at $40.96 a barrel, at 8.50 am Makkah time.

 

US West Texas Intermediate (WTI) crude futures fell 2.2% to $38.98 a barrel.

 

Meanwhile, the US reported its highest number yet of new coronavirus infections in two days through Saturday, while in France new cases hit a record of more than 50,000 on Sunday.

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