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Oil Prices Down as Demand Fears Bite


Thursday, 26 March 2020 11:05 WIB

Minyak WTIbrent oilOil,Crude Oil


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Oil prices dropped on Thursday morning in Asia as the COVID-19 pandemic hit demand.

Oil prices could not hold onto gains from the last session even as the U.S. Senate reached agreement on a $2 trillion relief package.

International Brent Oil Futures fell 0.77% to $27.17 by 10:01 PM ET (02:01 AM GMT) and U.S. Crude Oil WTI Futures fell 1.35% to $24.15.

Oil demand is continuing to take a hit as the COVID-19 pandemic severely curtails travel and more countries order lockdowns to curb the spread of the disease. India, the second most populous country and the third largest oil consumer in the world, started a 21-day lockdown yesterday.

Source : Investing.com


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