Oil falls 7% after surprise travel restrictions by Trump

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Brent crude fell 7% to Thursday after President Donald Trump imposed travel restrictions to the United States from Europe as part of measures to try to stem the spread of the Corona virus, after the World Health Organization described a pandemic.
Brent crude fell 2.57 dollars, or 7.2%, to 33.22 dollars a barrel, and US West Texas Intermediate crude fell 1.48 dollars or 4.5% to record 31.50 dollars.Meanwhile, global stocks tumbled and the Dow Jones was heading towards its worst performance since the “Black Monday” collapse in 1987 after Trump announced travel restrictions.

And prices reduced their losses for a short period, after the New York Federal Reserve Bank said that it will increase purchases of treasury bonds and create new repurchases, but the recovery quickly faded in various markets.

“The massacre of the global market continues as Wall Street struggles to accommodate the disruption of the global pandemic of travel, trade, and daily life. Brent crude appears to be losing another 10%, and it appears that demand expectations will not You only know more deterioration. “





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