Oil prices dropped on Friday and were headed for weekly declines as inventories rose and record-breaking new coronavirus cases in the United States stoked concern about the pace of economic recovery and fuel demand.
Brent crude was down by 46 cents, or 1.1%, at $41.89 a barrel, and U.S. oil fell 51 cents, or 1.3%, to $39.11 a barrel.
Brent was set for a weekly decline of almost 2% and U.S. crude for a fall of almost 4%.
More than 60,500 new COVID-19 cases were reported in the United States on Thursday, setting a daily record. The tally was also the highest daily count yet for any country since the pathogen emerged in China late last year.
Source : Reuters
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