Oil extends loss on India COVID-19 cases, U.S. pipeline restart

Oil extends loss on India COVID-19 cases, U.S. pipeline restart
# 14 May 2021 08:59 (UTC +04:00)

Oil prices fell on Friday after dropping about 3% a day earlier as coronavirus cases remained high in major oil consumer India and as a key fuel pipeline in the United States resumed operations after being shut due to a cyber attack, APA reports quoting Reuters.

Brent crude oil futures were down 26 cents, or 0.4%, at $66.79 a barrel by 0 GMT, while West Texas Intermediate (WTI) was down 20 cents, or 0.3%, at $63.62 a barrel. Both prices are heading for their first weekly loss in three weeks.

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