One dollar drop in oil prices in today’s transactions

According to Fars International Economic Group, quoted by Reuters, after the Chinese authorities over the weekend continued to impose strict restrictions on Corona They emphasized and hopes for an increase in demand in the big the most The world’s oil consumers were blown away, the price of oil decreased by more than one dollar in today’s trading.

A barrel of Brent oil was sold at $97.33, down one dollar and 24 cents. This type of oil reached 96.50 dollars per barrel in the early trading hours.

US crude oil was also sold at $91.15 per barrel, down one dollar and 46 cents. The price of WTI was down to $90.40 per barrel today.

Tina Teng, an oil market analyst, said: “Since the Chinese authorities have strict policies Corona They will continue, while the number of infected people in this country has increased, which means more restrictions and darkened the demand outlook, the price of oil has fallen sharply.

He added: The decline in the value of the dollar has also affected the price of oil.

Despite strong U.S. jobs data, the bank may still consider a small interest rate hike at its next policy meeting, four U.S. Federal Reserve policymakers indicated on Friday.

With the release of the rumor of the end of restrictions Corona In China, which boosted the value of stock markets in this country and the prices of basic commodities, the prices of Brent and WTI oil increased last week and rose by 2.9% and 5.4% respectively.

However, Chinese health officials announced at a news conference on Saturday that they would continue the strict policy and approach of restrictions. Corona pushing up to.

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