Oil fell as bearish virus news from India to Japan underpinned the outlook for a staggered recovery in consumption. West Texas Intermediate slid 0.6%, though remains within the $5 range it has traded in since mid-March. India, the world’s No. 3 oil importer, reported a record number of daily coronavirus cases, with states facing a vaccine shortage . In Ontario, officials issued a stay-at-home advisory, while the Tokyo government is weighing stricter curbs as a more contagious variant spreads. WTI is now trading below its 50-day moving average Crude has been stuck in a narrow band around $60 in recent weeks. While a string of positive economic figures, particularly from the U.S., has buoyed sentiment, fresh Covid-19 outbreaks and renewed lockdowns have acted as a counterweight. Against that mixed backdrop, the Organization of Petroleum Exporting Countries and its allies have announced a roadmap to ease output curbs over three […]