Oil declines amid COVID-19 updates

28/12/2020 Argaam

Oil prices edged lower on Monday as investors followed updates on coronavirus and geopolitical developments.

 

US President Donald Trump signed into law a nearly $900 billion pandemic aid and spending package.

 

Attention is also shifting towards the new strain of coronavirus, which is said to spread faster, with the total number of infections worldwide reaching 80.7 million.

 

In terms of trading, the benchmark Brent crude for February delivery fell 0.6% to $51.01 a barrel, at 9.05 am Makkah time.

 

WTI crude declined 0.6% to $47.95 a barrel.

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