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Oil markets hit by pandemic

2020-07-10T21:23:06.910Z


Production, after falling, will start to rise again in July, according to the International Energy Agency.In terms of containment, it's difficult to know which saint to devote to. Particularly for the oil market. Crude prices, trending higher since July 1, started to fall Friday. A barrel of Brent crude and the American benchmark WTI fell nearly 3% during the day before returning to the green, the first at 42.8 dollars, the second at 40.1 dollars. The spread of the coronavirus worldwide worries invest...


In terms of containment, it's difficult to know which saint to devote to. Particularly for the oil market. Crude prices, trending higher since July 1, started to fall Friday. A barrel of Brent crude and the American benchmark WTI fell nearly 3% during the day before returning to the green, the first at 42.8 dollars, the second at 40.1 dollars. The spread of the coronavirus worldwide worries investors. The risk of a second wave is still present while many countries, which had released their guard, see the level of infections start to rise again. This is the case of the United States, the world's largest consumer of black gold, where more than 65,500 additional cases were identified in 24 hours. It is also that of Melbourne, the second largest city in Australia, which decided on Thursday to reconfigure its inhabitants.

If demand is once again curbed, oil could still find itself in surplus on the market. Especially since the International Agency

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Source: lefigaro

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