Oil was down on Thursday morning in Asia, as COVID-19 numbers across the globe continued upwards and added to fuel demand worries.
Brent oil futures was down 0.56% to $44.09 by 11:58 p.m. (ET) and WTI futures fell 0.83% to $41.66, both remaining above the $40 mark. The WTI futures contract rolled over to the January contract on Nov 18.
The global coronavirus pandemic is steadily worsening, with the virus now firmly entrenched across Europe and the U.S. Economically disruptive lockdowns, mostly recently in South Australia state, and public activity restrictions are also on the rise, pulling oil prices down.
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