Crude oil and stock indices fell amid the threat of a double-digit recession coronavirus proliferation
Oil is cheaper again after a small correction this morning, continuing the negative dynamics of Monday. At 9:51 a.m., Brent declined by 0.19% to $41.36, WTI - by 0.15% to $39.48. The decrease was caused by the players' concern about further development of the coronavirus situation. In many countries, there is an increase in the number of new infections, so that they again quarantine restrictions are introduced. Yesterday oil quotations collapsed at 3 - 4% due to the threat of a re-emergence of the pandemic in the world, which would lead to a drop in demand. The major U.S. stock indices closed negative on Monday for the same reasons. Dow Jones lost 1.84%, S&P 500 lost 1.16%, NASDAQ - 0.13%. The threat of a second wave of coronavirus deteriorates the prospects for economic development. Additional the negative factor is that the US authorities still cannot agree on a new support package, the discussion of which continues in the White House for over a month.