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Oil drops as India coronavirus crisis tempers rally Reuters Tokyo | Updated on Oil demand already outstripping supply, short fall expected to grow further Oil prices fell on Thursday,pulling back from an eight-week high, as concerns about the coronavirus crisis in India, the world s third-biggest importer of crude, tempered a rally driven by IEA and OPEC predictions that demand is coming back strong. Brent crude was down 32 cents, or 0.5%, at $69.00 a barrel by 0145 GMT, after gaining more than 1% on Wednesday. West Texas Intermediate (WTI) was down 31 cents, or 0.5%, to$65.77 a barrel, having risen 1.2% in the previous session. The path for crude prices appears to be higher but until the situation improves in India, WTI will probably struggle to break above the early March high, Edward Moya, senior market analyst at OANDA, said in a note.

United statesEdward moyaInternational energy agencyOrganization of the petroleum exportingcountriesWest texas intermediatePetroleum exporting countriesColonial pipelineCorona virusஒன்றுபட்டது மாநிலங்களில்எட்வர்ட் மொயாமேற்கு டெக்சாஸ் இடைநிலைபெட்ரோலியம் ஏற்றுமதி நாடுகள்காலனித்துவ குழாய்கொரோனா வைரஸ்