Oil falls after fears of the impact of high Corona injuries on demand


Oil prices fell on Tuesday, retreating from the highest level in a month, due to fears that India, the third largest importer of crude in the world, may impose restrictions to contain a jump in the numbers of infections and deaths from the Coronavirus.

Brent crude futures, the global benchmark, ended the trading session down 48 cents, or 0.72 percent, to settle at $ 66.57 a barrel, and during the session Brent reached its highest level since March 18 at $ 68.08.U.S. West Texas Intermediate crude futures fell 94 cents, or 1.48 percent, to settle at $ 62.44 a barrel.

In other parts of Asia, the Philippines is witnessing a second wave of HIV infections, while Hong will suspend flights from India, Pakistan and the Philippines from April 20 for a period of two weeks.

Oil prices jumped in early trading, supported by a disruption in Libyan exports and expectations of a decline in crude inventories in the United States.

The market is awaiting the latest weekly data on oil stocks in the United States, which will be released from the American Petroleum Institute later today and from the US government on Wednesday.


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