WTI crude futures plunged nearly 3%, nearing the $ 52 low on the day. Investors worried that a lock-down measure in China would affect oil demand. Despite the positive factors from China’s large crude oil imports. Including the disclosure of US economic stimulus measures
At 11.32 PM Thai time, the West Texas Crude Oil Agreement (WTI) for February delivery. It traded down $ 1.45, or 2.71 percent, to $ 52.12 a barrel.
Even though WTI oil prices fell today But it is likely to rise to the third week.
China has announced a lockdown in several cities. After the coronavirus outbreak was discovered.
China Customs said today. China imported a 7.3 percent increase in crude oil in 2020, with low oil prices encouraging China to increase its oil storage. While the refinery increases production capacity
The President of the United States Joe Biden. Announcement of economic stimulus measures of $ 1.9 trillion Which aims to help households and businesses cope with the COVID-19 epidemic.
Biden said: Pushing for the stimulus is a priority task after he assumed the presidency on Jan. 20.
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