direct: The price of US NYMEX fell slightly when settling trading on Monday, while “benchmark Brent” crude exceeded the level of $ 43 a barrel and amid hopes the economy will recover from the effects of the Corona crisis.
Investors are still concerned about the increase in the number of Corona injuries in the United States and the impact this will have on demand despite positive economic data that supports hopes for an economic recovery.
Crude during the trading benefited from the tightening of global supplies due to the agreement to cut production for OPEC countries and their allies, in addition to expectations of recovering demand with the reopening of global economies.
Last Friday, Baker Hughes announced that oil drilling platforms in the United States would continue to decline, with the impact of falling prices on producers.
Upon settlement, the price of future US NYMEX crude for August delivery fell marginally by 0.05 percent to $ 40.36 a barrel, after hitting a level of $ 41.08 a barrel earlier in trading.
By 7:00 GMT, the price of Brent crude for September delivery in September increased by 0.6 percent to $ 43.08 a barrel.