Oil prices fell Aug. 21 as weak European economic recovery news teamed up with concerns about sluggish crude demand amid the ongoing coronavirus pandemic. Crude prices were trading substantially more than $1/b lower in midday US trading, but finished closer to 50 cents down as the curtain came down on the week. Front-month NYMEX WTI shaved off 48 cents and settled at $42.34/b while ICE October Brent dropped 55 cents to $44.35/b. Europe’s manufacturing purchasing data hit a two-month low, according to figures released Aug. 21, although US manufacturing purchasing managers’ index (PMI) data rose a bit. But the more positive US numbers were not enough to boost crude markets, said Edward Moya, senior market analyst […]