Oil Falls As Trump Tests Positive For COVID-19

Crude oil prices took a nosedive today after President Donald Trump tweeted late last night that both he and the first lady had tested positive for Covid-19. Brent crude slipped below $40 in Asian and European trading, and West Texas Intermediate stayed below $38 a barrel, after falling earlier this week. Oil was already on the decline earlier this week, weighed down by renewed fears about demand recovery as new Covid-19 cases continued rising fast in Europe, the U.S., and India. The global total passed 34 million this week, up by a million from…