Oil prices drop on demand worries, rising supplies

Oil prices drop on demand worries, rising supplies
# 16 November 2021 07:03 (UTC +04:00)

Oil prices slipped on Tuesday as a rebound in COVID-19 cases in Europe raised concerns over demand amid expectation that supply will rise, while some in the market still fear the United States may release crude reserves to stop a rally in gasoline prices.

Brent futures fell 9 cents, or 0.1%, to $81.96 a barrel, as of 0105 GMT, while U.S. West Texas Intermediate (WTI) crude slid 10 cents, or 0.1%, to $80.78 a barrel.

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