Fear of the spread of the corona lowered oil prices

20.11.2021. / 8:00

WASHINGTON – Oil prices sank on international markets to $ 79 on Friday because investors fear that a new wave of coronavirus in Europe could slow down the recovery from the crisis and, they estimate, the chances of selling oil from strategic reserves.

FOTO: Pixabay

In the London market, the price of a barrel after noon sank $ 1.9 compared to the previous close, to $ 79.34. It had briefly climbed to $ 82.24.

In the U.S. market, a barrel was traded in delivery contracts in December at a $ 1.97 lower price, at $ 77.04. In delivery contracts in January, its price also dropped by about two dollars, to 76.52 dollars.

Traders today are worried about the repeated spread of the corona virus in Europe. Austria is thus the first country to re-decide to introduce a complete lockdown to tackle a new wave of contagion that could hamper the region’s economic recovery from the crisis.

Germany, the largest European economy, also warned that due to the corona virus, it could reach for complete closure. Index.hr

Source: Capital.ba – Informacija je capital by www.capital.ba.

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