The American oil price fell 4%, affected by the elections and the increase in Corona injuries – Palestine today


Oil was sold in the US market at less than $ 40 a barrel on Friday.

This came after the increase in Corona injuries fueled fears of weak demand, and the state of anticipation accompanying the counting of votes in the US elections.

Brent crude was settled down $ 1.48, or 3.62 percent, to $ 39.45 a barrel.

US West Texas Intermediate crude fell $ 1.65, or 4.25 percent, to $ 37.14 a barrel.

But the two crude achieved a weekly gain, as Brent rose 5.8 percent and US crude rose 4.3 percent, as well as pressure on the market that the prospects for a large US stimulus package receded.

Bob Yoger, director of energy contracts at Mizuho Bank, said: “Crude oil is very sensitive to the stimulus expectations, which have just taken a hit and worsened …” He added, “The coronavirus situation is the most negative indicator for demand.”


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