⁍ Brent crude LCOc1 was down 70 cents, or 1.7%, at $41.07 by 0353 GMT.
⁍ U.S. West Texas Intermediate (WTI) dropped 69 cents, or 1.7%, to $39.16.
– Oil prices have fallen for a second day as new cases of a respiratory illness that has killed dozens of people in the US and France surge. The latest cases of coronavirus, which causes vomiting and fever, have killed 19 in the US and more than 50,000 in France, the World Health Organization said Sunday. The virus is believed to have originated in an American patient, a woman in her 70s who died in Dallas last week. The death toll is expected to rise. “The recent surge in COVID-19 cases and further movement restrictions across parts of Europe is weighing on sentiment, with concern over what this all means for demand,” ING Economics said in a note, per Reuters. “Not helping, is the fact that Libya appears to be returning supply to the market quicker than expected.”
Source: https://www.reuters.com/article/us-global-oil/oil-falls-as-covid-19-case-surge-stokes-demand-concerns-idUSKBN27B03M