Oil prices accentuated its fall on Monday, due to the impact of the coronavirus epidemic on the demand for crude oil and the lack of response to the crisis by OPEC members.
In New York, the US barrel of “light sweet” crude oil (WTI) for March lost 75 cents, or 1.5%, to end at $ 49.57, the lowest price since early January 2019.
For its part, in London, the barrel of North Sea Brent crude for delivery in April fell 1.20 dollars, or 2.2%, to close at 53.27 dollars, the lowest price since the end of 2018.
“The oil market is still under pressure due to the coronavirus crisis and the impact it has on energy demand in China,” said the world’s largest importer of crude oil, said Andy Lipow of Lipow Oil Associates.
China, surprised by the epidemic of new coronaviruses, whose latest balance shows more than 40,000 infected people and about 900 deaths, returned Monday to a slight recovery in work.
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