Manhattan, Friday November 13, 2020 ((rezonodwes.com)) – Oil prices fell on Friday, financial site reports prixdubaril.com revealing that the data published the day before following the euphoria caused earlier this week by the promising results of a potential vaccine against Covid-19, are not encouraging for the demand for black gold.
A barrel of North Sea Brent for January delivery was down 1.72% or 75 cents from Thursday’s close at $ 42.78.
In New York, WTI’s US barrel for December fell 2.41% or 99 cents, to $ 40.13.
« Cases of coronavirus contamination are still on the increase and containment measures have been put in place“, Lamented Stephen Brennock of PVM,“ it is therefore not surprising that the IEA, for example, has reduced its short-term outlook for global oil demand« .
In its latest monthly report released Thursday, the International Energy Agency (OUCH) significantly revised downwards its forecasts for global oil demand this year due to the second wave of Covid-19 which is affecting Europe and United States.
