Day: September 29, 2020

Oil slips as demand stresses offset seeks after improvement
World

Oil slips as demand stresses offset seeks after improvement

Oil costs fell on Tuesday as demand concerns driven by COVID-19 exceeded trusts that U.S. legislators and the White House were approaching an agreement on another stimulus package to restore the world's greatest economy. U.S. West Texas Intermediate (WTI) rough fates slipped 17 pennies, or 0.4%, to $40.43 at 0120 GMT, while Brent unrefined fates additionally fell 17 pennies, or 0.4%, to $42.26 a barrel. The two benchmarks rose about 1% on Monday. Commodities markets had sneaked up in before trade as Democratic officials uncovered another $2.2 trillion Covid relief bill, which U.S. House of Representatives Speaker Nancy Pelosi said was a trade off measure. "If it happens, the U.S. stimulus checks will go a long way to shoring up U.S. oil demand at a most critical juncture and coul...