Oil depreciates by 1.8 – 1.6% due to concerns about demand prospects

Oil falls this morning amid uncertainty around demand. Brent shed 1.48% at 9:27 am to $ 42.34, WTI fell 1.73% to $ 39.08. Investor concerns put pressure on quotes the prospects for a recovery in demand due to the deteriorating situation with coronavirus in the world. Fears are fueled by new outbreaks recorded in different countries. The latter prompted the Saudi state corporation Saudi Aramco to reduce selling prices for oil, reports agency Reuters. This company is the largest exporter in the world, revised prices downward for buyers from the United States and Asia as he sees demand fuel costs fluctuate under the influence of pandemic outbreaks, writes agency. It notes that in August, the demand for Saudi oil in the United States was the weakest in several decades, as a result of which Saudi Aramco decided to lower prices for this country. The last time such a step was undertaken by her in April.