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Oil: The Covid-19 hovers over demand

28/07/2021
Categories: Raw materials

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While the Covid-19 hangs over demand, oil prices have concluded a small decline. The barrel of Brent from the North Sea for delivery in September ended almost stable at 74.48 dollars in London (-0.02%).

Investors remain suspended on the spread of Covid-19. Brent had crossed the $75 mark earlier in the day, reaching $75.05, a first since July 14. On Tuesday, the barrel of Brent from the North Sea for delivery in September ended almost stable at 74.48 dollars in London (-0.02%). In New York, the US barrel of WTI for the same month fell 0.36% to 71.65 dollars. The United States thus maintained restrictions on international travel on Monday, despite requests for reciprocity emanating in particular from the European Union. The thirteen members of the Organization of the Petroleum Exporting Countries (OPEC) and their ten allies via the OPEC+ agreement indeed opted for caution on July 18, with a measured increase in production until September 2022, from the order of 400,000 barrels per day each month from August.

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