Oil prices fall in biggest losing streak since February 2020

The News Craving

By Yuka Obayashi TOKYO (Reuters) – Oil prices fell for a sixth day, the longest losing streak since February 2020, as a spike in COVID-19 cases worldwide fuelled fears over slower fuel demand while a surprise build in U.S. gasoline inventories added to pressure. Brent crude was down 87 cents, or 1.3%, at $67.36 a barrel by 0447 GMT, after touching the lowest since May 24 at $67.10 earlier in the session. U.S. West Intermediate crude (WTI) fell $1.05, or 1.6%, to $64.41 a barrel after falling to as low as $64.24, also the lowest since May 24. WTI has dropped over 7% while Brent has slumped more…

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