TOKYO (Reuters) - Oil prices eased in early trade on Wednesday as industry data showing a build in U.S. crude stockpiles and a forecast for U.S. crude output to fall less than anticipated in 2020 added to worries about oversupply.

TOKYO (Reuters) - The dollar held onto gains on Wednesday as a resurgence of the coronavirus in the United States and the return of lockdowns in some countries boosted safe-haven demand for the U.S. currency.

The Energy Information Administration raised its price outlook for Brent crude to $41 per barrel for the second half of 2020—this is $4 per barrel higher than the EIA’s forecast last month.

On the production side, the ANRPC report pointed out that Covid-19 was to be blamed for the loss of nearly one million tonne potential NR supply across the globe.

As part of its GreenX Circle initiative, industrial tire manufacturer GRI has opened a new natural rubber collection center in the Monaragala District of Sri Lanka, to support local rubber tree planters. The company said this will enable rural farmers to earn fair value for their natural rubber product.

COVID-19 is not only a threat to human health but also to the economy, including the natural rubber sector. Global natural rubber import quantity in the period from January to April was recorded at 2 million tons, or declining by 19.7 percent year-on-year (yoy). Natural rubber import quantity from China, as the biggest consumer, weakened by 4.9 percent yoy in the same period. Similarly, natural rubber import quantity from the United States and Japan also dropped 9.2 percent yoy and 13 percent yoy, respectively.