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[size=36]After the recovery .. oil prices in the red zone المنطقة[/size]
Economie| 11:35 - 04/06/2021
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BAGHDAD - Mawazine News:
Oil prices fell today, Friday, with continued pessimism about the Corona virus, as optimism about the recovery of fuel demand receded, in light of concerns about the irregular delivery of Covid-19 vaccines globally.
Brent crude fell 0.2 percent to $71.18 a barrel, by 05:04 GMT, after falling four cents on Thursday, after rising to its highest level since May 2019. And crude is heading for a weekly gain of more than two percent this week.
While US crude also fell 0.2 percent to $ 68.71, after falling two years in the previous session, but it is heading to record a weekly gain of about four percent.
And both contracts earned about five dollars each in the past two weeks, amid optimism that global demand for fuel is recovering from the height of the pandemic.
"We continue to view the recovery in oil demand largely from the results of vaccinations," commodity analysts at JPMorgan Chase said in a note.
Analysts pointed out that "America and Europe are well ahead in their efforts to immunize," but the slow pace of vaccination roll-out activities in both developed and emerging Asian countries means that "there is no clear end in sight to social distancing restrictions in the region."
Oil prices fell today, Friday, with continued pessimism about the Corona virus, as optimism about the recovery of fuel demand receded, in light of concerns about the irregular delivery of Covid-19 vaccines globally.
Brent crude fell 0.2 percent to $71.18 a barrel, by 05:04 GMT, after falling four cents on Thursday, after rising to its highest level since May 2019. And crude is heading for a weekly gain of more than two percent this week.
While US crude also fell 0.2 percent to $ 68.71, after falling two years in the previous session, but it is heading to record a weekly gain of about four percent.
And both contracts earned about five dollars each in the past two weeks, amid optimism that global demand for fuel is recovering from the height of the pandemic.
"We continue to view the recovery in oil demand largely from the results of vaccinations," commodity analysts at JPMorgan Chase said in a note.
Analysts pointed out that "America and Europe are well ahead in their efforts to immunize," but the slow pace of vaccination roll-out activities in both developed and emerging Asian countries means that "there is no clear end in sight to social distancing restrictions in the region."
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