Oil Down Over Increasing U.S. China Tensions And COVID-19 Cases….LIVE NEWS UPDATE BY ROYAL TRADERS


Oil prices fell on Monday morning in Asia, as the COVID-19 pandemic as well as Sino-U.S. relations  took a turn for the worse over the weekend.

Brent oil futures slid 0.37% to $43.62 by 10:37 PM ET (3:37 AM GMT) and WTI futures dropped 0.22% to $41.20. The Brent oil contract rolled over to the Oct 20 contract on Sunday.

The U.S. recorded a near record 74,000 new cases of COVID-19 on Friday according to Johns Hopkins University data. More than 1,000 Americans died each day between Tuesday and Friday, the worst death tally since late May. The numbers may lead to further closures and lockdowns and hit at demand for fuel.

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