A sharp decline in oil prices – the world economy –...

A sharp decline in oil prices – the world economy –...
A sharp decline in oil prices – the world economy –...

The prices of oil futures contracts fell sharply during US trading yesterday, Monday, in light of fears of a decline in energy demand in the world, in light of the high rates of infection with the emerging Corona virus.

According to health reports, the number of people infected with the new Coronavirus in the United States and parts of Europe rose to record levels early this week, which raises concerns about the possibility of imposing restrictions on movement and economic activities to limit the spread of the virus.

At the same time, hopes have dashed that the Democrats and Republicans in the United States will reach an agreement on the new economic stimulus package before the US presidential elections scheduled for November 3.

The price of West Texas Intermediate crude, the benchmark for US oil, fell by $ 1.29; That is, about 3.2 percent to $ 38.56 a barrel for delivery next December, which is the lowest level since October 2.

Yesterday, Sunday, the number of new infections with the Coronavirus in the United States set a record for the second consecutive day. The number of new people infected with the virus in France recorded more than 50 thousand infections during the first two days of this week.

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