Oil falls on worries about a new surge in coronavirus infections…..LIVE NEWS UPDATE BY ROYAL TRADERS


Oil prices fell on Wednesday, reversing the previous session’s surge as worries about a second wave of the coronavirus pandemic outweighed support from a gradual reopening of global economies.

Brent crude, which on Tuesday rose to its highest level since a price plunge began in March, slipped 47 cents, or 1.1%, to $42.16 a barrel by 0814 GMT.

The benchmark crude has climbed from below $16 in April but remains a third lower than its level at the end of 2019.

U.S. West Texas Intermediate (WTI) crude fell 59 cents, or 1.5%, to $39.78 a barrel.

A rising number of coronavirus cases in the United States, China, Latin America and India has unnerved investors.

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