The main oil benchmarks fell below $40 a barrel again this week as clouds gathered over the outlook for demand and supply amid a surge in Covid-19 cases in Europe and the United States. And they might have further to fall. Reuters’ John Kemp reported on Tuesday that hedge funds had sold enough oil last week to offset the previous week’s purchased that supported prices at around $40 a barrel. But now, the resurgence in Covid-19 is fueling fears of a double-dip recession in two key markets, driving a warier attitude to crude oil. Rystad Energy, meanwhile, said on Monday that it expected global oil demand to peak in eight years. This was the latest in a string of pessimistic forecasts on oil demand, all of them citing the pandemic as a major factor determining future trends. The forecast is a revision on an earlier one that expected peak […]