The rise in COVID-19 cases is slowing the recovery in oil demand.
Traders are not very optimistic about the recovery in oil demand.
Oil quotations are decreasing because of a possible increase in supply on the market due to the inflow of new volumes of shale oil from the United States.
Brent price went down due to the strengthening of the dollar.
A new strain of coronavirus, previously reported by the UK, has already been found in Germany, France and Switzerland.
On Sunday, the British authorities have decided to introduce the most stringent restrictive measures due to a new type of coronavirus infection.
US lawmakers are trying to resolve the remaining contentious issues regarding the new package of measures to support the economy.
Oil prices are declining due to the deterioration of the OPEC forecast for the dynamics of oil demand in 2021.
The cost of February Brent futures on the London ICE Futures exchange on Friday is $50.34 per barrel.
At least seven employees were injured when a crude oil storage tank exploded at a Magellan Midstream Partners plant.
The company kept oil prices unchanged for northwest Europe. However, the company cut the price for shipments to the US in January to its lowest level since May this year.
The police are confident that people who work or are associated with the oil sector may try to recruit sources of information for intelligence services.