Oil falls as virus infections rise, eyes on European Union recovery plan

Topics oil | European Union

By Bozorgmehr Sharafedin LONDON (Reuters) - Oil prices fell on Monday as coronavirus cases increased in many countries across the globe, but investors remained cautiously optimistic about ongoing talks over a European Union-wide recovery fund to revive economies affected by the pandemic. Brent crude was down 19 cents, or 0.4%, at $42.95 a barrel by 0845 GMT, and U.

S. oil slipped 19 cents, or 0.5%, to $40.40 a barrel. "As things stand, prices are not likely to produce any sizeable gains very soon, until a signal that the pandemic.....

This article is no longer available in our repository.

There could be multiple reasons for this.