Oil prices regain lost ground on Friday, Brent now $64.10, OPEC $66.76

Oil prices regained lost ground on Friday after recording losses for five days as a new wave of COVID-19 infections wash across Europe, spurring new lockdowns and dampening hopes for a recovery in demand for fuels anytime soon.

Prices plunged the most on Thursday since last summer, leaving oil down nearly 10% this week with the reality that the pandemic is abiding, even if infections have plummeted in the U.S., the worst-hit country and biggest crude consumer.

Brent Crude futures were up 1.30% to sell at $64.10 cents a barrel while the US West Texas Intermediate Futures were up 1.47% to sell at $60.88 cents.

OPEC basket on the other hand recorded losses of 0.19% to sell at $66.76 cents a barrel.

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