Oil slips over demand concerns

On Friday, oil dipped to around $45 a barrel on worries that a demand recovery would slow due to a resurgence of coronavirus cases, although a pledge from OPEC member Iraq to cut oil output further in August lent support.

Brent crude LCOc1 fell 13 cents, or 0.3%, to $44.96 by 0820 GMT. U.S. West Texas Intermediate (WTI) crude CLc1 also slipped 13 cents to $41.82.