the price of “black gold” standard grades in the course of trading on Friday down, but overall for the week they can demonstrate growth of at least 4%.
as of 17:39 GMT, October futures for North sea petroleum mix of Brent crude fell $0.53 to $44,56 per barrel, September futures for West Texas WTI — at $0.54 to $41,41 per barrel, reports “Finmarket”.
As noted by analyst IK “VELES the Capital” Elena Kozhuhova, “crude oil futures Brent and WTI to the end of the session in Russia remained in the red and losing around 1.5%”. “Quotes, after the update earlier in the week highs in March, slid to the supports 44 dollars and 41 per dollar, respectively, in the correction. Short-term and medium-term situation in the market is still dominated by buyers, but may change if you transfer these values”, — stated in the review of the expert.
one of the main reasons for concern of investors is the situation with the spread of coronavirus infection COVID-19 in the world and its impact on commodity demand.
Recall that the outbreak of pneumonia caused by a coronavirus infection (COVID-2019), was formally recorded in December 2019 in the Chinese city of Wuhan. March 11, 2020, the world health organization (who) officially recognized the situation with coronavirus pandemic. To date, cases of infection were recorded in almost 200 countries and regions of the world. In General, according to project of Johns Hopkins University, the number of infected COVID-2019 in the world exceeded 19 million people died over 713 thousand. The pandemic has had devastating effects on the world economy. Under the powerful kick hit many industries, including transport, tourism, hospitality, automotive, construction, retail, and entertainment.