Oil prices fell on Monday as a continued surge in coronavirus globally forced a series of renewed lockdowns, including strict new measures in Southern California, APA reports quoting Reuters.
Brent crude oil futures were down 16 cents, or 0.3%, at $49.09 a barrel by 0117 GMT, while West Texas Intermediate oil futures fell 19 cents, or 0.4%, to $46.07 a barrel. Both benchmarks gained for a fifth consecutive week last week.
“Crude pared earlier vaccine roll-out gains after Los Angeles county had another record high in coronavirus cases and South Korea raised their alert level,” said Edward Moya, senior market analyst at OANDA.
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on TikTok
Follow us on Facebook
Follow us on X
