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Oil continued its drop on Monday morning in Asia, following last week’s plummet. Investor worries over demand were amplified after COVID-19 cases surpassed 10 million and deaths surpassed half a million as of June 29, according to Johns Hopkins University data.
The U.S. is seeing a big surge in virus cases with some states hitting an all-time high. Only two states, Connecticut and Rhode Island, reported a decline in new cases compared to last week.