Oil falls as possible OPEC+ Supply Boost, COVID-19 Spike Weigh On Sentiment ” OIL NEWS UPDATES BY ROYAL TRADERS “

OIL NEWS UPDATES :

Oil prices fell on Friday on concerns that major producers will move ahead with plans to ease their supply cuts even as a spike in COVID-19 cases in Europe and the United States is curtailing demand in two of the world’s biggest fuel consuming regions.

Brent crude futures for December dropped 22 cents, or 0.5%, to $42.94 a barrel by 0154 GMT, while U.S. West Texas Intermediate (WTI) crude futures for November delivery slid 16 cents, or 0.4%, to $40.8 a barrel.

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