Oil becomes cheaper as coronavirus worsens and stocks rise
Oil prices are falling this morning - at 9:25 a.m. Brent was down 0.59% to $66.18, WTI down 0.69% to $62.24. Negative The negative trend was caused by the worsening of the situation with the coronavirus in the world, and also by the news about increase of oil reserves. The news of an increase in oil reserves in the United States. Players were concerned about strengthening of the pandemic. In India and Japan, new infections are on the rise. new infections, raising fears of another tighter quarantine measures and a worsening global economic recovery. It also poses risks to the demand for This also poses risks to the demand for oil - both countries are the largest importers in the Asian region, accounting for 16% of its imports. Both countries are the largest importers of oil in the Asian region, their purchases account for more than 16% of global demand, Notes AxiCorp analyst Stephen Innes. In view of this, the forecast of global Innes said the forecast for global demand for commodities this year might be lowered. France-Presse. In addition, data from the American Petroleum Institute showed an unexpected increase in inventories last week by 0.4 million barrels. Oil Institute showed an unexpected increase of 0.4 mln barrels last week.