Crude oil gets 1.8 – 1.6% cheaper due to concerns about demand prospects
Oil is falling this morning amid uncertainty around demand. At 9:27, Brent lost 1.48%, down to $42.34, WTI cheaper by 1.73% to $39.08. Quotation pressure is of concern to investors the prospects for recovery in demand due to the deterioration of the situation with coronavirus in the world. Fear warms up new flashes, recorded in different countries. The latter prompted the Saudi Aramco state corporation to reduce selling prices for oil, as reported by Reuters. This company, which is the largest exporter in the world, has revised prices downward for buyers from the United States and Asia, because they see that demand on fuel fluctuates under the influence of pandemic outbreaks, writes agency. It notes that in August the demand for Saudi oil in the U.S. turned out to be the weakest in decades, resulting in Saudi Aramco decided to reduce prices for this country. The last time such a step was undertaken by her in April.