Crude edges lower as market searches for direction amid COVID-19 surge

摘要

New York-Oil futures edged lower Oct. 16 as demand outlooks dimmed in the face of renewed social restrictions across Europe. NYMEX November WTI settled 8 cents lower at $40.88/b, and ICE December Brent settled down 23 cents at $42.93/b. The US saw 63,172 new coronavirus infections Oct. 15, according to data from The COVID Tracking Project, the highest since July 31. In Europe, multiple countries, including France, Germany and Italy, are seeing record-high numbers of new infections, prompting a wave of new social restrictions. The French government is set to impose an overnight curfew across several major cities, including Paris, beginning Oct. 17, while UK authorities are restricting social gatherings and urging citizens to avoid public transit in London.