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Oil extends losses on pandemic fears and rise in U.S. gasoline stockpiles

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Reuters

By Yuka Obayashi TOKYO (Reuters) – Crude prices extended their losses into a sixth day on Thursday, hovering near 3-month lows, hurt by growing fears over slower fuel demand amid a spike in COVID-19 cases worldwide while an unexpected rise in U.S. gasoline inventories added to pressure. Brent crude was down 85 cents or 1.3% at $67.38 a barrel by 0019 GMT, having fallen 1.2% on Wednesday. U.S. West Intermediate crude (WTI) lost 93 cents or 1.4% to $64.53 a barrel after tumbling 1.7% in the previous session. Both benchmarks have lost more than 5% over the past six sessions, trading near their lo…

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