Oil Set for Worst Month Since March as Virus Revival Cuts Travel

(Bloomberg) — Oil is poised for the biggest monthly slide since March on concern a resurgent pandemic in the U.S. and Europe will keep people hunkered down, crimping demand for auto and aviation fuel.Futures have tumbled almost 11% this month in New York and they’re near the lowest since late May in London. Infections surged to a record in the U.S. Midwest, while parts of Europe tightened restrictions to stem second waves. Meanwhile, the return of Libyan supplies added to concerns of a crude glut.Road fuel sales in the U.K. slid for a fifth week to the lowest since July. …read more

Source:: Yahoo Finance