New coronavirus outbreaks bring oil prices down

Despite a reduction in efforts to stabilize supply and demand, oil prices are falling due to the spread of coronavirus infection.

New coronavirus outbreaks bring oil prices down

This is reported on Friday, July 3, by Reuters.

“The fragile recovery of the US economy could be undermined by the latest surge of new infections”, –  Stephen Brennock, employee of the PVM brokerage firm, told the reporters.

Today, oil prices fell below $43 per barrel amid the second wave of the epidemic in the United States. Thus, Brent crude fell by 56 cents to $42.58 per barrel, American WTI crude oil is generally trading at $40.07 after a reduction of 58 cents.

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