Oil slides on sharp uptick in coronavirus cases globally

Oil prices slid on Monday as sharp spikes in new coronavirus infections around the world forced some countries to resume partial lockdowns, raising concerns about the pace of economic recovery and fuel demand.

Brent crude LCOc1 had dropped 44 cents, or 1%, to $40.58 a barrel by 0917 GMT, and U.S. crude CLc1 was 36 cents, or 1%, lower at $38.13.