* Global coronavirus deaths surpass 1 million -Reuters tally
* Positive coronavirus cases climb in New York City
* Top traders see tepid oil demand recovery
* Trump-Biden debate in focus
* Libya's Sarir oilfield has restarted production
* U.S. crude stocks seen up last week - Reuters poll
* Upcoming - U.S. weekly oil stocks from API (2030 GMT)
(New throughout, updates prices, market activity and comments
to close)
By Scott DiSavino
NEW YORK, Sept 29 (Reuters) - Oil prices fell over 3% on
Tuesday to their lowest in two weeks on worries about the
outlook for fuel demand as Europe and the United States grappled
with a surge in new coronavirus infections.
Investors in stocks and commodities also remained cautious
ahead of the first U.S. presidential debate between Democrat Joe
Biden and Republican Donald Trump later on Tuesday. .DJI
.SPX "Today's lower trade generally followed declines in the
equities," said Jim Ritterbusch, president of Ritterbusch and
Associates in Galena, Illinois.
On its second to last day as the front-month, Brent LCOc1
futures for November delivery fell $1.40, or 3.3%, to settle at
$41.03 a barrel, while the more active Brent contract for
December LCOc2 fell 3.1% to settle at $41.56.
U.S. West Texas Intermediate (WTI) crude CLc1 fell $1.31,
or 3.2%, to settle at $39.29 per barrel.
Those price declines came ahead of the release of U.S. oil
inventory data from the American Petroleum Institute (API) on
Tuesday and the U.S. Energy Information Administration (EIA) on
Wednesday that is expected to show crude stockpiles increased
1.6 million barrels last week. API/S EIA/S More than a million people worldwide have died from
COVID-19, according to a Reuters tally, a bleak milestone in a
pandemic that has devastated the global economy and demand for
fuel. New York City will impose fines on people who refuse to wear
a face covering as the rate of positive coronavirus tests
climbed above 3% for the first time in months, Mayor Bill de
Blasio said on Tuesday. "The evolving COVID landscape is a massive downside risk for
crude prices," said Craig Erlam, senior analyst at OANDA.
The heads of the world's largest trading houses predicted
tepid oil demand recovery and flat prices in the coming months
and possibly even years.
Clashes between Armenia and Azerbaijan over the
Nagorno-Karabakh region have also kept markets on edge. If the
conflict escalates, it could affect oil and gas exports from
Azerbaijan. In Libya, meanwhile, the Sarir oilfield has restarted
production, the head of the company that operates it said on
Tuesday, after eastern forces lifted an eight-month blockade on
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Global COVID-19 death tally crosses 1 million https://tmsnrt.rs/2Giq0Wa
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