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Oil is heading for a weekly decline as concerns about demand due to Corona grow

2020-09-25T10:00:11.916Z


Tokyo-SANA Oil prices fell today and are heading towards a weekly decline due to growing concerns about the impact of demand


Tokyo-Sana

Oil prices decreased today and is heading towards a weekly decline due to growing concerns that fuel demand will be affected by a new large-scale rise in cases of coronavirus.

Reuters reported that Brent crude fell four cents to $ 41.90 a barrel, while West Texas Intermediate crude fell eight cents to $ 40.23 a barrel, Brent fell about three percent this week, and US crude fell by about two percent, and the two benchmarks are heading towards a monthly decline that will be the first for Brent in six months. .

And in the United States, which has the highest death rate from the Corona virus pandemic and the largest oil consumption in the world, jobless claims rose unexpectedly last week, indicating that the economic recovery is unraveling and pushing demand for fuel to decline.

And fuel demand in the United States remains stagnant as the pandemic restricts travel, and average demand for gasoline in four weeks has fallen 9 percent from its level a year ago, government data showed on Wednesday.

Source: sena

All business articles on 2020-09-25

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