UPDATE 6-Oil slides 5% to lowest since June on demand fears

* Coronavirus cases rise in U.S., India, Britain
* Brent crude falls to lowest since June 25
* OPEC+ panel meets on Sept. 17 to review market, supply
pact

(Updates prices)
By Alex Lawler
LONDON, Sept 8 (Reuters) - Oil slid 5% to below $40 a barrel
on Tuesday, its lowest since June, pressured by concerns that a
demand recovery could weaken as coronavirus infections flare up
around the world.
Coronavirus cases rose in 22 of the 50 U.S. states, a
Reuters analysis showed on the Labor Day holiday weekend. New
infections are also increasing in India and Britain.
Brent crude LCOc1 fell $2.18, or 5.2%, to $39.83 a barrel
at 1400 GMT, and earlier slipped to $39.61, the lowest since
June 25. U.S. West Texas Intermediate (WTI) crude CLc1 dropped
$2.99 or 7.5%, to $36.78.
On Monday, crude fell after Saudi Arabia's state oil company
Aramco cut the October official selling prices for its Arab
light oil, a sign demand may be stuttering.
"The price weakness is continuing today," said Eugen
Weinberg, analyst at Commerzbank. "We believe this is
attributable first and foremost to demand concerns."
Both oil benchmarks have dropped out of the ranges they were
trading in throughout August. Brent is falling for a fifth day
and has lost more than 10% since the end of August.
"The streak of losses is driven by a stalling crude demand
outlook for the rest of the year," said Paola Rodriguez-Masiu,
analyst at Rystad Energy.
Still, oil has recovered from historic lows hit in April,
thanks to a record supply cut by the Organization of the
Petroleum Exporting Countries and allies, known as OPEC+. The
producers are meeting on Sept. 17 to review the market.
Crude has also found support from a weaker U.S. dollar,
although the U.S. currency was up on Tuesday. The market could
rally beyond $45 later this year, said Norbert Ruecker, head of
economics at Swiss bank Julius Baer.
"Fundamentally, things have not changed," he said. "Demand
is recovering, supply remains constrained, and the storage
overhang is slowly disappearing."