Open Demo Account
Home / Market Update / Commodities / Oil Prices Decline on Coronavirus Concerns

Oil Prices Decline on Coronavirus Concerns

M. Ali 22 December, 2020 1:19 am Commodities, Market Update

Oil prices declined on Monday, on the back of renewed concerns about a new variant of the novel Coronavirus that caused a global pandemic.

New lockdown measures could sharply impact the demand for oil, which is driving investors’ worries across the markets.

Brent crude futures for February delivery closed lower by $1.35, or 2.6%, at $50.91 per barrel.

Meanwhile, the West Texas Intermediate (WTI) crude futures for February delivery fell by $1.27, or 2.6%, to finish at $47.97 per barrel.

Tags

Check Also

European Stocks Rise Cautiously Ahead of U.S. Inflation Data

European stock markets edged higher on Wednesday, as investors awaited the latest U.S. inflation report, …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends