⁍ Oil prices fell over 4% on Wednesday as surging coronavirus infections in the United States and Europe are leading to renewed lockdowns.

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⁍ The decline mirrored downturns in other risk-asset markets, as U.S. stock indexes were all lower, with the S&P 500 index down 2.7%.

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– Oil prices have fallen to their lowest level in more than a month on concerns about the global economy, Reuters reports. The fall mirrored a sell-off in US stock indexes, with the S&P 500 down 2.7%. “Crude oil is under pressure from the increase in COVID-19 cases, especially in Europe,” says one analyst.