The fall in oil prices accelerated

World oil prices on Friday afternoon are already declining by more than 4% against the background of a widespread rejection of risk after the news about the coronavirus disease of US President Donald Trump, according to trading data.

The price of December futures for Brent North sea oil mix was down by 4.37% to $ 39.14 per barrel, while the price of November WTI futures was down by 4.49% to $ 36.98 per barrel.

Pressure on the mood of global investors on Friday is exerted by news from the United States, where Trump and his wife have confirmed coronavirus. This has increased concerns about the outlook for the world’s largest economy, with the country’s presidential election looming in November.

“There was already a downward trend in the market, and this event added to the uncertainty, forcing people to give up risk,” said Lachlan Shaw, head of research in the commodity sector at National Australia Bank.

If you have found a spelling error, please, notify us by selecting that text and pressing Ctrl+Enter.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Author: Steve Cowan
Graduated From Princeton University. He has been at the Free Press since October 2014. Previously worked as a regional entertainment editor.
Function: Chief-Editor
Steve Cowan

Spelling error report

The following text will be sent to our editors:

37 number 0.242978 time