Oil futures tumbled on Thursday amid rising fears of a second wave of Covid-19 infections in the US.

This exacerbated the selling pressure that followed a record increase in weekly US crude inventories that reignited concern about slow demand growth for crude.

The rout came amid a wider global collapse in commodity and equity markets.

Sentiment was also hit after the Federal Reserve projected that a US economic recovery from the impact of the the coronavirus pandemic would be slow.