Brent rises amid big spikes in infections at the weekend in the US and elsewhere while traders await an Opec technical meeting
London — Oil prices dropped on Monday on big spikes in Covid-19 infections at the weekend in the US and elsewhere while traders await an Opec technical meeting expected to recommend an easing of supply cuts.
US Covid-19 infections surged at the weekend as Florida reported an increase of more than 15,000 new cases in 24 hours, a record for any state. Libya, meanwhile, reimposed force majeure on all oil exports on Sunday because of a renewed blockade by eastern forces. The move comes only two days after Libya exported its first crude cargo in six months.
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