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Oil prices fell

2020-03-11T10:25:49.018Z


LONDON-SANA, Oil prices retreated today, giving up its early gains, after huge losses in


London-Sana

Oil prices have retreated today, abandoning its early gains, after huge losses incurred in the past days.

Reuters reported that Brent crude fell by $ 0.41, equivalent to 1.1 percent, to $ 36.81 a barrel, while American West Texas Intermediate crude fell $ 42.4, or 1.2 percent, to record $ 33.94 a barrel.

In addition, the dollar continued its decline against the safe-haven currencies of the Japanese yen and the Swiss franc.

The dollar lost 0.9% to record 104.67 yen, down more than a full yen from yesterday's peak of 105.915 yen.

The Swiss franc rose 0.65 percent to 9335.0 francs to the dollar, while the euro rose 0.6 percent to 1.313 dollars.

The sterling reached $ 1,873 in its latest price, little changed from the previous close, but it fell from a peak reached earlier today at $ 1,973 after the Bank of England lowered the main interest rate for the first time since August 2016 by 0.5 percentage points to 0.25 percent.

Source: sena

All business articles on 2020-03-11

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