Oil prices fall as jump in Covid-19 cases stokes fuel demand fears

Tokyo

OIL prices fell for the first time in four days on Wednesday, pulling back from as much as five-month highs as mounting coronavirus cases worldwide and in the United States undercut market confidence in a pickup in fuel demand.

Brent crude was down 16 cents, or 0.4 per cent, at US$44.27 a barrel by 0117 GMT. It finished 0.6 per cent higher on Tuesday - the highest close since March 6.