Oil prices fell for the second straight day on Wednesday as doubts re-emerged over demand, with COVID-19 cases continuing to rise worldwide and gasoline shortages in some regions, APA reports quoting Reuters.
Brent crude was down $1.03 or 1.3% at $78.06 a barrel by 0130 GMT, having fallen nearly $2 on Tuesday after touching $80.75, its highest in nearly three years.
U.S. oil fell $1.02 or 1.4% to $74.27 a barrel, having dropped 0.2% in the previous session.
Oil prices have been charging higher as economies recover from pandemic lockdowns and fuel demand picks up, while some producing countries have seen supply disruptions.
Traders expect Organization of the Petroleum Exporting Countries (OPEC) and allies, usually known as OPEC+, will decide to keep supplies tight when they meet next week.
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