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Reuters DR
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Oil futures continued to lose today, Thursday, down more than 9%, amid indications of poor Corona vaccine distribution and heavy infections.
Brent futures fell below $ 62 for the first time since February 11.
Reuters quoted market analyst Edward Moya as saying that “crude prices fall for the fifth consecutive session with growing fears of an extraordinary summer in Europe … Europe is experiencing the third consecutive week of rising prices. cases of Covid-19, with the persistent obstacles in terms of vaccines. “
The slowdown in some vaccination campaigns and the possibility of further restrictions to control the pandemic have limited expectations of a resumption in fuel consumption.
Crude inventories in the United States rose for the fourth week in a row after refineries in Texas and central Texas were forced to shut down due to harsh winter weather in February.
In Saudi Arabia, the Joint Data Initiative website reported today that January oil exports hit their highest level since April 2020.
Source: “Reuters”
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