Oil prices dipped again on Monday as rising coronavirus cases upset hopes for a smooth recovery in fuel demand, with crude on track for its first monthly fall in many months after slipping last week.
Brent is on track to fall for the first month in six while WTI is headed for its first monthly loss since April as renewed mobility curbs in various countries following more coronavirus cases cloud the outlook on fuel demand recovery.
More crude is also being exported from OPEC producers Iran and Libya despite efforts by the Organization of the Petroleum Exporting Countries and their allies to limit output.
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