Oil Prices Slump On Demand Concerns

Oil-Prices-Slump-On-Demand-Concerns

Uncertainty with oil prices continues as they once again witnessed a red mark on Tuesday in the early session. It trimmed the gains that it scored on the previous day. The ongoing concerns over demand-supply dynamics and rising cases of coronavirus in the US edged past the stimulus package hopes.

As of Tuesday, more than 1 million people have succumbed due to the Covid-19 pandemic. Meanwhile, the Brend crude futures (December) slipped to $40.38, which is 0.5 per cent or 22 cents loss by 0438 GMT. The contract of November fell to $42.26 a barrel which is 17 cents loss. It will get over on Wednesday.

Whereas the WTI crude futures were down to $40.38, that is a drop of 22 cents by 0438 GMT.

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