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Oil fell more than 25 percent from its peak in January, and declined American raw From the level of $ 50 a barrel, after a virus outbreak Sk They damaged the demand for crude in the world’s largest oil importer, China, and fueled fears of an oversupply in global supplies.
Raw contracts ended Brent blend The trading session is as low as $ 1.20, or 2.2 percent, to settle at $ 53.27 a barrel, its lowest level since December 28, 2018.
The US benchmark West Texas Intermediate crude contracts fell 75 cents, or 1.5 percent, to settle at the settlement of $ 49.57 a barrel, its weakest level since January 7, 2019. According to Reuters.
This keeps the benchmarks in a downward trajectory for thirteen and fourteen days, respectively, the longest series of losses for both since November 2018.
The price difference between Brent contracts for the nearest maturity and WTI contracts fell to the lowest level since August 2019.
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Oil fell more than 25 percent from its peak in January, and US crude fell below $ 50 a barrel after the outbreak of the Corona virus damaged the demand for crude in China, the world’s largest oil importer, and fueled fears of a surplus in global supplies.
Brent crude contracts ended the trading session as low as $ 1.20, or 2.2 percent, to settle at $ 53.27 a barrel, its lowest level since the twenty-eighth of December 2018.
The US benchmark West Texas Intermediate crude contracts fell 75 cents, or 1.5 percent, to settle at the settlement of $ 49.57 a barrel, its weakest level since January 7, 2019. According to Reuters.
This keeps the benchmarks in a downward trajectory for thirteen and fourteen days, respectively, the longest series of losses for both since November 2018.
The price difference between Brent contracts for the nearest maturity and WTI contracts fell to the lowest level since August 2019.
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