Oil prices mixed as coronavirus spike casts shadow over U.S. demand

Oil prices mixed as coronavirus spike casts shadow over U.S. demand
  • Clock-gray 05:06
  • calendar-gray 06 July 2020

Oil prices offered up a mixed market snapshot on Monday, with Brent crude edging higher, supported by tighter supplies, while U.S. benchmark WTI futures dropped on concern that a spike in coronavirus cases could curb oil demand in the United States, APA reports quoting Reuters. 

Brent crude LCOc1 rose 11 cents, or 0.3%, to $42.91 a barrel by 0109 GMT after a 4.3% gain last week, while U.S. West Texas Intermediate crude CLc1 was at $40.35, down 30 cents, or 0.7%, from its previous settlement on Thursday. U.S. markets were closed on Friday to mark July 4 holiday celebrations.

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