- Tokyo – Reuters
Oil prices fell yesterday in thin trading with the increase in the number of cases of “Covid 19” in some areas of the world, which restrained prices, even at a time when the US Central Bank indicated that the US economy may recover quickly with the acceleration of the immunization campaigns against the disease.
Brent crude rose 28 cents, or 0.4 percent, to $ 62.67 a barrel, after it had risen to $ 63.30 a barrel earlier in the session. US West Texas Intermediate crude fell 23 cents, or 0.4 percent, to record $ 59.09 a barrel, after it had risen 46 cents earlier.
Prices have not seen much change since choppy trading that ended on Monday.
Although the number of those who received the vaccine in the United States exceeded 70 million, and Europe is witnessing a decline in the number of cases with the implementation of measures for general isolation, India has recorded record numbers of new daily infections, and other regions of Asia are witnessing a sharp increase in infections.
Analysts and dealers say this is likely to continue to curb any rebound in global travel and keep prices in a limited range as summer approaches.
Jerome Powell, Chairman of the US Federal Reserve, said in an interview broadcast on Sunday that the US economy is at a “inflation point” amid expectations that growth and employment will accelerate in the coming months, but the country faces the risk of reopening economic activities faster than necessary, which may prompt cases of infection. With “Corona” to increase again.