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Oil extends losses as stockpile rise amid weakening demand due to pandemic

Brent crude was down 18 cents, or 0.5%, at $39.88 a barrel by 0337 GMT, after falling nearly 2% on Thursday

Topics
Oil Prices | Coronavirus

Reuters  |  TOKYO 

By Aaron Sheldrick TOKYO (Reuters) - Oil prices fell for a second day on Friday, pressured by a surprise rise in U.S. stockpiles as the coronavirus pandemic continues to erode demand for fuels. Brent crude was down 18 cents, or 0.5%, at $39.88 a barrel by 0337 GMT, after falling nearly 2% on Thursday, while U.S. crude dropped 14 cents, or 0.4%, to $37.16 a barrel, having fallen 2% in the previous session. Both major benchmarks are down around 6.5% for the week and headed for a second week of declines, as hopes dim for a steady recovery in fuel demand amid signs of second-wave ...

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First Published: Fri, September 11 2020. 10:17 IST
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