Oil prices plummeted by more than $ 2 today after an increase in COVID cases in Beijing dashed hopes of a speedy recovery in fuel demand in China. At the same time, concerns about inflation and global growth continue to put pressure on the market, informs CNBC.
Brent crude oil lost 2.06 euros or 1.7 percent to $ 119.95 a barrel. US light crude fell 2.13 euros or 1.8 percent to $ 18.54 a barrel, BTA reported.
Chinese authorities yesterday warned of a “relentless” spread of COVID-19 in the capital and announced plans to conduct a mass test in Beijing by Wednesday. Concerns about a further rise in interest rates after the data on the sharp acceleration of inflation in the United States also had a negative impact on global financial markets.
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4.1
Evaluation 4.1 from 13 voice.
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