Thursday, October 29, 2020 ((rezonodwes.com)) – In New York, oil prices fell again on Thursday for the second consecutive session, to the lowest since the beginning of June, weighed down by the rapid spread of Covid-19 which results in Europe drastic health measures, limiting the consumption of crude.
The US barrel of WTI listed in New York for delivery in December dropped 3.26% or $ 1.22, to 36,17 dollars, after having already lost 5.51% the day before.
In London, a barrel of Brent from the North Sea for delivery the same month lost 3.75% or 1.47 dollars, to 37,65 dollars, after a decline of 5.05% on Wednesday.
Between the announcement of the containment measures linked to the epidemic, the swelling of American crude stocks and the increase in Libyan production: ” what else can we still throw in the face of this market?“Phil Flynn laments to Price Futures Group.
« Wherever you look, there is nothing but bad news. Just one of these factors wouldn’t have the impact we see on prices, but taken all together it’s hard to stay optimistic.“, Added this long-time specialist in the energy market.
source: price per barrel
