Corona’s pressure … Brent prices are at the lowest level since mid-June

Actions and statements in Europe raise fears of a new closure
http://www.shwiesh.com
29.10.2020

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Brent crude prices fell, on Thursday, to the lowest level in 4.5 months, since mid-June, under the pressure of the Corona pandemic and fears of a return to closure.

Countries, most recently Germany and France, imposed measures and restrictions on local facilities, markets and sporting events, in an attempt to break the chain of the outbreak of the epidemic, which records jumps in the number of injuries daily.

To a lesser degree, crude prices were negatively affected by US data, on Wednesday, which showed a sudden jump in crude stocks, during the past week ending on October 23, by 4.3 million barrels.

At 10:26 GMT, global benchmark Brent crude futures for January delivery fell 3.65 percent, or $ 1.43, to $ 38.30 a barrel.

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US West Texas Intermediate crude futures for December delivery fell 3.72 percent, or $ 1.4, to $ 35.97 a barrel.

Earlier today, the French Football Association suspended the amateur league and the French Cup, while Prime Minister Jean Castex announced that putting masks in schools “will include primary school students from the age of six years.”

Also Thursday, Chancellor Angela Merkel described the situation of the Corona virus, currently in Germany as tragic, in a government statement to her in Parliament, “Bundestag”.

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