Oil prices dipped on Wednesday, a fifth day of declines with investors wary about prospects for stronger fuel demand as the use of rail, air and other forms of transport remained constrained amid surging COVID-19 cases worldwide.
Brent crude was down 5 cents or 0.1% at $68.98 a barrel by 0139 GMT, having fallen 0.7% on Tuesday. U.S. oil lost 6 cents or 0.1% to $66.53 a barrel after dropping 1% in the previous session.
"In India, the economic fallout of the severe Covid-19 outbreak earlier this year still weighs on the economy and consumer travel behaviour," he added. A stronger dollar was also hitting commodities across the board, with metals and precious gold in particular as "equally fragile" as oil, ANZ Research said in a note.
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