Oil is falling as the number of Corona injuries increases

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Oil prices fell today, Monday, as increased infection with the Coronavirus in India and other countries raised fears of stronger measures to contain the pandemic that affect economic activity and demand for basic commodities such as crude.

Brent crude fell 23 cents, equivalent to 0.3%, to $ 66.54 a barrel, after rising 6% last week. US West Texas Intermediate crude fell 27 cents, or 0.2%, to $ 62.96 a barrel, after rising 6.4% last week.

“The progress of vaccination campaigns in developed markets can be seen in road traffic levels, but the high incidence of infections reverses the path of recovery in emerging countries,” such as India and Brazil, ANZ Research said in today’s report.





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