Oil prices are down today
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| Oil Prices |
Oil prices fell on Friday, due to growing concerns that a rise in Covid-19 infections in Europe, the United States, and Asia could hurt fuel consumption, and the International Energy Agency warned that demand growth for crude and its products slowed sharply as the rise in Coronavirus infections around the world forced Governments are reimposing restrictions on movement.
Oil prices today | barrel of oil price
- The price of Brent crude oil decreased by 49 cents, and its price reached $70.82 per barrel, which led to a decline in its price by 0.7%.
- Oil fell in the US "West Texas Intermediate crude" by 53 cents, as its price reached 68.56 dollars per barrel, which led to a decline in its price by 0.2%.
In the same context, the International Energy Agency said a few days ago that the increase in demand for crude oil almost stopped in July and is about to rise at a slower pace over the rest of 2021 due to the increase in infections with the mutated Delta strain of the Coronavirus.
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