Oil mixed after dropping on demand concerns post-U.S. holiday

Oil mixed after dropping on demand concerns post-U.S. holiday
# 08 September 2020 07:46 (UTC +04:00)

Oil prices were mixed in early trade on Tuesday on looming demand worries about a possible rise in COVID-19 cases following the U.S. Labor Day long weekend, which also marks the end of the peak U.S. driving season, APA reports quoting Reuters. 

U.S. West Texas Intermediate (WTI) crude CLc1 futures fell 64 cents, or 1.6%, to $39.13 per barrel at 0221 GMT, playing catch-up with a drop in Brent prices overnight. 

Brent crude LCOc1 futures inched up 6 cents, or 0.1%, to $42.07 a barrel, after falling 1.5% on Monday. 

Brent dropped on Monday after Saudi Arabia’s Aramco, the world’s top oil exporter, cut the October official selling prices for its Arab light crude, seen as a sign demand growth may be stuttering as COVID-19 cases flare up around the world.

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