TOKYO, Aug 19 (Reuters) - Crude prices extended their losses into a sixth day on Thursday, hovering near 3-month lows, hurt by growing fears over slower fuel demand amid a spike in COVID-19 cases worldwide while an unexpected rise in U.S. gasoline inventories added to pressure.
Brent crude was down 85 cents or 1.3% at $67.38 a barrel by 0019 GMT, having fallen 1.2% on Wednesday. U.S. West Intermediate crude (WTI) lost 93 cents or 1.4% to $64.53 a barrel after tumbling 1.7% in the previous session.
Both benchmarks have lost more than 5% over the past six sessions, trading near their lowest level since May 24 in the previous session.
The slide continued as investors remained worried over the increase in infections caused by the Delta variant of the coronavirus worldwide. read more
U.S. crude inventories fell 3.2 million barrels last week to 435.5 million barrels, their lowest since January 2020, the Energy Information Administration said on Wednesday.
But gasoline stocks (USOILG=ECI) rose by 696,000 barrels to 228.2 million barrels, against analysts' expectations for a 1.7 million-barrel drop.
Minutes of the U.S. Federal reserve's July 27-28 policy meeting showed officials noted the spread of the Delta variant could temporarily delay the full reopening of the economy, and restrain the jobs market. read more
Source Reuters