Oil is heading for a weekly decline as demand for coronavirus increases

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Image used for rendering purposes. Record

U. S. fuel order remains stagnant as the pandemic limits travel.

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In other parts of the world, the daily buildup of coronavirus infections is at record levels and new restrictions are being introduced that are likely to restrict demand and fuel.

“Fundamentally, nothing has replaced the aspect of the equation that weighs on oil costs in general,” said Jeffrey Halley, senior market analyst at OANDA.

Reuters

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