Crude oil prices continue to decline in the international market

Soukaina Sghir
Soukaina Sghir
1 Min Read
NEFT

Crude oil prices continue to decline at the global market level, as they fell at the beginning of Monday morning by about 1.5 percent, amid the return of fears of a decline in demand.

According to the data of the specialized energy platform, this decline comes after Chinese officials, at the end of the week, reiterated their commitment to a strict approach to contain the Coronavirus, which has spread again at an alarming pace, which has dashed hopes for a recovery in demand for oil in the largest importer of crude in the world.

The price of Brent crude futures fell by 1.30 percent, or $97.29 a barrel, and with it, the price of US West Texas crude futures fell by 1.57 percent to $91.16 a barrel.

Furthermore, crude oil prices ended their transactions at the end of last week on the impact of the rise, estimated at about 5 percent, and with the support of the decline of the US dollar, as Brent and West Texas crude witnessed a rise in weekly gains estimated at about 5.1 percent and 5.4 percent, respectively.

Soukaina Sghir

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