Oil prices fell on Thursday as a surge in coronavirus infections worldwide raised fears that a pickup in fuel demand would stutter just as major oil producers will boost production in August.
US West Texas Intermediate (WTI) crude futures fell 6 cents, or 0.2%, to $ 41.21 a barrel at 0130 GMT, while Brent crude futures fell 7 cents, also 0.2%, to $ 43.68 a barrel.
Both benchmark contracts remained at unchanged levels after jumping on Wednesday after the US Energy Information Administration reported a sharp and unexpected drop of 10.6 million barrels in crude stocks this week. pass.
At the same time, however, US gasoline and distillate stocks, which include diesel and heating fuel, increased against expectations of falling inventories, underscoring the uneven nature of the recovery in fuel demand.
"It was not all good news, with signs that demand is still struggling to grow," ANZ analysts said in a note.
Analysts said Thursday's mixed price movements were due to demand concerns with the rise in COVID-19 infections and the increased chances of blockades being re-imposed.
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