Oil prices tumble on Wednesday amid expectations of lower demand amid high incidence of COVID-19 and current restrictive measures, Interfax reports.
Worsening demand forecasts levels the support, which was provided to the market by the data on the decline in US oil reserves published the day before, writes Bloomberg.
The cost of March futures for Brent oil on the London ICE Futures exchange by 8:15 Moscow time on Thursday is $ 55.45 per barrel, which is $ 0.36 (0.65%) below the price at the close of the previous session. As a result of trading on January 27, these contracts fell by $ 0.1 (0.2%) - to $ 55.81 per barrel.
The price of WTI crude oil futures for March in electronic trading on the New York Mercantile Exchange by this time is $ 52.53 per barrel, which is $ 0.32 (0.61%) below the level at the close of the market on Wednesday. The day before, futures rose in price by $ 0.24 (0.5%) - up to $ 52.85 per barrel.
