Sharjah24 – Reuters: Oil prices resumed their decline on Monday, edging lower on renewed concerns that European lockdowns may slow an anticipated recovery in demand for fuel products.
Brent crude was down 34 cents, or 0.5%, at $64.19 a barrel by 0608 GMT. U.S. oil was off by 21 cents, or 0.3%, at $61.21 a barrel. Both contracts fell by more than 6% last week.
"Germany's lockdown extension and the partial lockdown in France continues to weigh on EU consumption sentiment," said Jeffrey Halley, senior market analyst at OANDA.
Germany plans to extend a lockdown to contain COVID-19 infections into a fifth month, according to a draft proposal, after new cases exceeded levels authorities say will cause hospitals to be overstretched.
Confidence in the safety of AstraZeneca's COVID-19 vaccine has taken a big hit in Spain, Germany, France and Italy as reports of rare blood clots have been linked to it and many countries briefly stopped using it, poll data showed on Monday.
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