COM - Oil prices plunge as India's COVID crisis rises Colonial Pipeline resumes

Crude oil prices tumble as India's coronavirus crisis worsens and the U.S. Colonial Pipeline resumes operations, halting a rally that had lifted crude to eight-week highs.June WTI (CL1:COM) -3% to $64.08/bbl, after rising 1.2% yesterday, and July Brent (CO1:COM) -2.8% to $67.39/bbl, after gaining 1% on Wednesday.ETFs: [[USO]], [[XLE]], [[UCO]], [[XOP]], [[VDE]], [[GUSH]], [[OIH]], [[ERX]], [[BGR]], [[BNO]]Four of today's top five losers on the S&P 500 are oil and gas producers: [[OXY]] -3.4%, [[XEC]] -2.7%, [[DVN]] -2.5%, [[MRO]] -2.4%."Concerns are growing that the untamed spread of the coronavirus in India and in Southeast Asia will dent oil demand," PVM analysts say, but even so, "the second half of the year will see the healthy revival of oil demand growth."Meanwhile, the Colonial Pipeline has resumed operations, saying product delivery has started in most of its markets and expecting each of its markets will be receiving product from its system by midday

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Oil prices plunge as India's COVID crisis rises, Colonial Pipeline resumes