Oil Drops As Demand Recovery Stalls

After rising at the start of the session, oil prices made a U-turn on Monday morning and slipped as rising coronavirus cases in many countries and stalling commercial flights recovery raised concerns about oil demand recovery. Earlier on Monday, the price of oil rose on the back of a weaker U.S. dollar and another major stimulus expected in the United States. However, by 10:00 a.m. EDT on Monday, WTI Crude was trading down 0.85 percent at $40.97, and Brent Crude prices were down 0.92 percent on the day at $42.95, as resurging…