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World oil prices fell sharply by around 5 percent on Friday after it was revealed that both the US president and his wife had been infected with the SARS-CoV-2 pandemic coronavirus.
Investors are also concerned about demand, although data from the US Department of Energy on Wednesday said US oil reserves fell for the third week in a row, MTI writes.
Markets are affected by concerns around massive restrictions imposed due to the outbreak of the coronavirus epidemic. Expectations that measures to impede free movement will be reintroduced in many European countries undermine hopes that demand will recover quickly.
Of the two most important crudes in world trade, North Sea Brent had a daily low of 5.21 percent minus $ 38,808, while West Texas Intermediate (WTI) in the Western Hemisphere had a 5.40 percent loss of $ 36.63. in the notes.
At midnight CET, Brent, delivered in December, was down 3.10 percent a barrel, to $ 39.66, and November’s WTI was down 3.02 percent, to $ 37.55.
Both types of oil are on track to drop in price for the second week in a row. Brent ended up trading at $ 41.92 per week and $ 43.15 two weeks ago, while WTI ended up trading at $ 40.25 and $ 41.11, respectively.
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