The epidemic of coronavirus: oil becomes cheaper against growth of number of diseases

Эпидемия коронавируса: нефть дешевеет на фоне роста числа заболеваний

The price of “black gold” has decreased on Tuesday because of fears concerning reduction in demand in connection with the growth of diseases COVID-19. This is evidenced by exchange trading on the website Investing.com.

Futures on WTI fell 0.8 percent to 40.68 dollars per barrel, for Brent – on 0,86% to 43.77 per barrel.

In the course of trading on Monday 3 August WTI futures rose by 1.8% and Brent crude declined 1.5% after the release of better-than-forecasts to data on business activity in Asia, Europe and the United States.

“On the demand side, we were quite encouraging data on world production… but there are still quite a lot of evidence that the recovery in oil demand stalled in many markets with the return COVID-19”, — reported in the National Australia Bank.

Exchange rates today: the Euro fell sharply and the dollar again showed growth

The demand for fuel is reduced due to the tightening of restrictions designed to stop the spread of the virus, in cities such as Manila and Melbourne. Also up for auction was influenced by the fact that Norway stopped moving cruise ship.

At the same time, the supply of oil increases because OPEC group+ in August increases production by 1.5 million barrels a day. American manufacturers also plan to resume the suspended proceedings.

Earlier, the Director of the communications Department of the National Bank of Ukraine Natalia Bondarenko has completed work on this post. On 3 August she went away on their own. To fill a vacant position soon to be announced contest.

telegraf.com.ua