Brent crude futures for February delivery fell 68 cents, or 0.8%, to $83.65 a barrel, and West Texas Intermediate crude futures fell 46 cents, or 0.6%, to $79.07 a barrel.
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Brent crude futures for February delivery fell 68 cents, or 0.8%, to $83.65 a barrel.
Oil prices fell today, Wednesday, due to fears of an increase in the number of Covid-19 cases in China, and the economic recovery of the Asian country, as it eased the restrictions of the pandemic, which limits the growth in oil demand.
By 07:10 GMT, Brent crude futures for February delivery fell 68 cents, or 0.8%, to $83.65 a barrel, and West Texas Intermediate crude futures fell 46 cents, or 0.6%, to $79.07 a barrel.
Also read: IMF praises China’s easing of ‘zero COVID’ policy
In light of the optimism that dominated the market, Brent and Texas crude recorded their highest weekly levels in 3 weeks, yesterday, Tuesday, following China said that it would not require arrivals to it to conduct a quarantine, starting from next January 8, in a move aimed at easing restrictions. strict in its limits.
mention that Oil prices stabilized following hitting their highest levelAs the restart of some power plants in the United States, following stopping due to winter storms, dashed hopes for a recovery in demand as China eases restrictions to combat the Corona virus.
