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Oil edges higher on tighter supply, but rising Covid-19 fears limit gains

Brent crude was up 48 cents, or 1.1 per cent , at $42.67 a barrel by 11:45 a.m

gas, petrol, crude, oil, diesel, price, economy
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South Korea said for the first time that it was in the midst of a second wave of the coronavirus, keeping prices from rallying further

Reuters
Oil prices edged higher on Monday as major producers cut crude output, but price gains were limited by worries that a rise in coronavirus infections worldwide might stall a recovery in fuel demand.

Brent crude was up 48 cents, or 1.1 per cent , at $42.67 a barrel by 11:45 a.m. EDT (1545 GMT). 

The West Texas Intermediate (WTI) crude contract for August, which became the days more active contract, rose 50 cents, or 1.2 per cent , to $40.33.

South Korea said for the first time that it was in the midst of a second wave of the coronavirus, keeping prices from

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First Published: Jun 22 2020 | 9:34 PM IST

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