New York-Sana
Oil prices fell by more than three percent to their lowest level in two weeks today, due to concerns about the outlook for fuel demand, while Europe and the United States are struggling with a growth in the new Corona virus infections.
Reuters reported that US West Texas Intermediate crude fell $ 1.11, or 3.2 percent, to $ 39.29 a barrel at close.
On its penultimate day, as the nearest maturity contract, Brent crude for November delivery declined $ 1.40, equivalent to 3.3 percent, to determine the settlement price at $ 41.03 a barrel, while the more active December contract fell 3.1 percent to $ 41.56.
The decline in prices comes ahead of the American Petroleum Institute report released later today and the US Energy Information Administration data tomorrow, which is expected to show an increase in crude stocks in the United States of 1.6 million barrels last week.
More than a million people around the world have died of "Covid 19", according to the agency's tally, while the pandemic continues to affect the global economy and demand for fuel.