News Snapshot:
LONDON: Oil prices fell on Friday, retreating further from 11-month highs hit last week, weighed down by worries that new pandemic restrictions in China will curb fuel demand in the world’s biggest oil importer. Brent crude futures fell $1.31, or 2.3%, to $54.79 a barrel by 1230 GMT, after a 2 cent gain on Thursday. U.S. West Texas Intermediate (WTI) crude futures dropped $1.3 cents, or 2.45%, to $51.83, a day after slipping 18 cents. “The biggest source of concern for the energy complex right now is rising coronavirus cases in China,” said Stephen Brennock of broker PVM. “This will...
