Bad luck for black gold.
Barrels of crude, be it North Sea Brent or Texan WTI, experienced their worst drop last week, -10% and -11% respectively, since the spring.
Brent rose very slightly on Monday, to $ 38, but the two major oil references did not take off from their level at the end of May.
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Oil: the decline in global demand has begun
Between the new series of containments and production that is sometimes higher than expected, the oil markets are worried.
European countries, hit hard by the second wave of Covid-19, are stepping up their restrictions.
This is the case, alongside France, Germany, Belgium, and Thursday, England.
These four countries represent more than 6% of global oil consumption.
"
The reaction of the markets is not surprising
", summarized Monday the analysts of the bank ING.
The epidemic resurgence also showered hopes of a rapid recovery in the aviation sector, a major consumer of oil.
Pretty much everywhere,
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