Oil prices fall amid stockpiling concern

Oil prices today fell, extending declines for a third day amid concerns about rising stockpiles in the United States. A halt in Covid-19 vaccination in Germany and France also added worry among investors about oil demand recovery.

Germany, France and Italy plan to suspend AstraZeneca COVID-19 injections after reports of possible serious side effects. However, the World Health Organization has said that there was no established link between side effects and the vaccine.
In intra-day trade, Brent crude prices were trading around 68 dollars per barrel while WTI crude prices were around 64 dollars and 50 per barrel.

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