Oil prices drop on demand worries as coronavirus cases rise

By Sonali Paul MELBOURNE (Reuters) - Oil prices fell more than 1% in early trade on Thursday as a spike in new coronavirus cases in China and the United States renewed fears that people would stay home and stall a recovery in fuel demand even as lockdowns ease. U.S. West Texas Intermediate (WTI) crude futures were down 1.6%, or 60 cents, at $37.36 a barrel at 0035 GMT, adding to a loss of 42 cents on Wednesday.

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