Oil falls as demand concerns trump Suez Canal disruptions

LONDON: Oil prices fell more than 1 percent as fresh coronavirus lockdowns revived worries about demand for oil products, even as tug boats struggled to move a stranded container ship blocking crude oil carriers in the Suez Canal.
Brent crude futures slid 87 cents, or 1.4 percent, to $63.54 a barrel early Thursday, after jumping 6 percent overnight.
US West Texas Intermediate (WTI) crude futures dropped by $1.02, or 1.7 percent, to $60.16 a barrel, after climbing 5.9 percent overnight.