Oil Prices Decline More Than 1% Due To Coronavirus

Baghdad Oil prices fell more than 1% today, Monday, as a result of restrictions imposed by governments on movement to counter the spread of the delta version of the Coronavirus, and slowing economic growth, worried about the recovery of fuel demand.

Brent crude fell 76 cents, 1.06 percent, to 69.83 dollars a barrel. And US oil fell 79 cents, 1.16 percent, to 67.44 dollars a barrel.

The recent tightening of the restrictions imposed to confront the Coronavirus in China led to a decrease in activity in the second largest economy in the world last July.

Source: National Iraqi News Agency