Oil Falls as US Stockpiles Rise, Fears Over Covid Wave Mount
- US will require airline passengers from China to test negative
- WTI crude futures heading for back-to-back quarterly decline
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Oil fell for a third day as US crude stockpiles grew and concerns mounted that a rapid surge of infections in China would slow demand in one of the world’s top oil importers.
West Texas Intermediate fell as much as 2.8% before paring losses to settle near $78 a barrel. US crude inventories rose by a modest 718,000 barrels last week.