CONSEQUENCES OF MITIGATION OF MEASURES IN THE USA: Oil prices have dropped

Oil prices have eased today, but are still on track to record a second week in a row with gains due to the optimistic atmosphere in the markets related to the global economic recovery, despite the worsening situation with covid 19 in India.

CONSEQUENCES OF MITIGATION OF MEASURES IN THE USA: Oil prices have dropped

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Brent crude futures fell 12 cents, or 0.2 percent, to $ 67.97 a barrel in trading until 13.43 Central European Time, and the price of U.S. “light” VTI oil fell 10 cents, also 0.2 percent. , at $ 64.61 a barrel, Reuters reports.

The easing of coronary restraint measures in the United States and Europe, the recovery of factory activities and vaccinations against kovid are paving the way for a revival of demand for fuel, which raises the mood in the oil market, where the price of Brent reached almost 70 dollars yesterday.

However, the energy consulting firm FGE notes that the revival of the corona in countries such as India, Japan and Thailand is hampering the recovery of gasoline demand, but adds that part of the lost demand for motor fuel has been offset by countries such as China. from 2019

“Gasoline demand in the United States and parts of Europe is progressing relatively well, and in the coming period, during the summer travel season, is likely to continue to strengthen as mitigation measures are eased,” the FGE said in a note to clients.

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