Brent went down to $73.68 per barrel

Котировки нефти снижаются в понедельник на опасениях об ослаблении мирового спроса на сырье на фоне роста числа зараженных COVID-19 и введения новых ограничительных мер в ряде стран, сообщает «Интерфакс».

Oil quotations declined on Monday amid fears of a weakening global demand for raw materials and an increase in the number of people tested positive for COVID-19 and the introduction of new restrictive measures in several countries, Interfax reports.

By 8:02 am Kyiv time, Brent September futures fell in price on the London ICE Futures exchange by $0.42 (0.57%) to $73.68 per barrel. On Friday, Brent rose in price by $0.31 (0.42%) to $74.10 per barrel.

By this time, September futures for WTI were cheaper by $0.46 (0.64%) to $71.61 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose by $0.16 (0.22%) up to $72.07 per barrel during the previous session.

Futures for both marks have been volatile over the past week, recovering from the July 19 crash and ending the week with a rally. Brent futures rose 0.69% over the week, WTI – 0.71%.

“The panic over the delta type of the coronavirus and implications for the recovery in demand ended by the middle of last week. However, concerns persist and could prevent oil prices from demonstrating further significant growth,” Vandana Hari, CEO of Vanda Insights, told S&P Global Platts.

Meanwhile, experts say that fundamental factors remain stable, which may support the market.

ANZ analysts also hope that the rise in vaccination rates will reduce the likelihood of introducing new full-fledged lockdowns around the world.

“Since the authorities of countries with a high level of vaccination are in no hurry to introduce tough restrictive measures, the risk of halting the growth in demand is weakening,” experts say.

Tags: oil, coronavirus, price, petroleum products, oil deliveries, oil pipeline, oil companies, economy, oil market, COVID‑19 vaccine

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