U.S. West Texas Intermediate crude oil futures are set for a weekly decline due to mounting worries about the impact on fuel demand of a widespread resurgence in coronavirus infections, as well as some concern about the likely return of exports from Libya. The U.S. benchmark is also heading for a monthly loss. Demand Outlook U.S. fuel demand remains under pressure as the pandemic constrains travel. The four-week average of gasoline demand last week was 9% below a year earlier, government data showed on Wednesday. Demand is likely to weaken over the near-term because the increasing coronavirus numbers are slowing the economic recovery. In the United States, which has the highest death toll from the coronavirus pandemic and is the world’s biggest oil consumer, unemployment claims unexpectedly rose last week suggesting an economic recovery is sputtering and pushing down fuel demand. Globally, in other parts of the world, the […]