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Oil Fell To Less Than $ 40
Oil fell to less than $ 40, declining by more than 3 percent, with concerns that the recovery in demand could be weakened due to the increase in coronavirus infections worldwide, and fell for the fifth consecutive session.
Yazar: Tom Roberts
Yayınlanma: 8 Eylül 2020 23:34
Güncellenme: 22 Kasım 2024 08:48
Oil Fell To Less Than $ 40
Oil fell to less than $ 40, declining by more than 3 percent, with concerns that the recovery in demand could be weakened due to the increase in coronavirus infections worldwide, and fell for the fifth consecutive session. Brent crude oil's closest futures barrel price is $ 40.55, down 3.4 percent after falling to its lowest level since June 29, at $ 40.58. U.S. light crude oil fell more than 5 percent to $ 37.71. Oil prices fell yesterday after Saudi Arabia's oil company Aramco lowered its official sales prices for Arab light oil in October. Aramco's step signaled that the demand had stalled. "The weak trend in prices continues today. We believe this is primarily due to demand concerns," said Commerzbank analyst Eugen Weinberg. Both Brent and US light crude oil moved out of their range during August. Brent oil has fallen more than 8 percent since the end of August. "The series of losses is due to the stagnant course of crude oil demand for the remainder of the year," said Rystad Energy analyst Paola Rodriguez-Masiu.İLGİLİ HABERLER
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