The price of a barrel of “Brent” oil falls below $ 40 …

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Oil prices fell today, Friday, and Brent crude recorded a reading below $ 40 a barrel, amid increasing investor concerns about a recovery in demand for crude.

Brent crude futures fell 0.37% to $ 39.91 a barrel at dawn today.

Last Tuesday, Brent fell below $ 40 a barrel, for the first time since the end of June 2020.

While US light crude futures fell 0.27% to $ 37.2 a barrel, according to the trading.

Markets are still concerned about the impact of the Corona crisis on the oil markets, as the crisis continues to put heavy pressure on demand for fuel.

Investor pessimism about the recovery in demand increased after the US Department of Energy announced Thursday an unexpected increase in the commercial oil reserves of the United States, as reserves rose in the week ending on September 4 by two million barrels and amounted to about 500.4 million barrels, while analysts expected an increase of 1.3 Million barrels.

Source: Novosti





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