* U.S. crude stocks rise less than expected
* Distillate inventories plunge -EIA
* Shutdowns mount as global COVID-19 cases surge
* Pfizer says its COVID-19 vaccine is 95% effective
By Yuka Obayashi
TOKYO, Nov 19 (Reuters) - U.S. crude futures fell in early
trade on Thursday, giving up some of gains from the previous day
as surging COVID-19 cases and widening lockdowns raised fears
over fuel demand, offsetting further upbeat vaccine news.
U.S. West Texas Intermediate (WTI) crude CLc1 futures were
down 39 cents, or 0.9%, to $41.43 a barrel by 0039 GMT, after
gaining nearly 1% on Wednesday. Brent crude LCOc1 was yet to
trade, having risen 1.4% on Wednesday.
"The spread of coronavirus infection and fresh restrictions
in the United States and other parts of the world hit market
sentiment as it would hamper fuel demand," said Kazuhiko Saito,
chief analyst at Fujitomi Co.
"Investors are also booking profits from the recent rally
before the U.S. Thanksgiving holiday later this month," he said.
The U.S. death toll from COVID-19 approached 250,000, as New
York Mayor Bill de Blasio announced the country's largest school
district will halt in-person learning in the latest major
restriction to curb soaring COVID-19 infections. Daily coronavirus cases in Tokyo and South Korea hit fresh
highs, as pollution-cloaked New Delhi struggled with rising
cases and Australia reported a highly contagious virus strain
which forced a state-wide lockdown. Worries about coronavirus-related economic damage took over
vaccine optimism stoked by the announcement by Pfizer PFE.N
and BioNTech 22UAy.DE that they could secure emergency U.S.
and European authorization for their COVID-19 vaccine next month
after final trial results showed it had a 95% success rate and
no serious side effects. On the upside, the U.S. crude inventories USOILC=ECI rose
768,000 barrels last week, less than analyst expectations in a
Reuters poll for a 1.7 million-barrel rise, government data
showed. Distillate stockpiles, which include diesel and heating
oil, fell by 5.2 million barrels, far exceeding expectations.
EIA/S
"Still, lingering worries over a global supply glut,
especially with the COVID-19-hit economies, will likely limit
upside of oil prices," Fujitomi's Saito said, predicting WTI to
be traded between $40 and $42 a barrel until the OPEC+ meeting
later this month.
OPEC+, comprising the Organization of the Petroleum
Exporting Countries, Russia and other producers, is due to
discuss policy at a full ministerial meeting to be held on Nov.
30 and Dec. 1.
(Editing by Michael Perry)