Oil prices fell more than 2% on Thursday as India’s coronavirus crisis deepened and a key U.S. pipeline resumed operations, halting a rally that had lifted crude to an eight-week high after the IEA and OPEC forecast a rebound in global demand later in the year. Brent crude was down $1.65, or 2.3%, at $67.67 a barrel by 0948 GMT, after rising 1% on Wednesday. West Texas Intermediate (WTI) was down $1.66 cents, or 2.5%, to $64.42 a barrel, having risen 1.2% in the previous session. If those losses are sustained, both contracts would mark their biggest daily drops in percentage terms since early April. In a bearish signal for oil demand, a variant of the coronavirus has swept through the countryside in India, the world’s third-biggest importer of crude. read more Medical professionals have not been able to say when new infections will plateau and other countries are […]