WTI crude oil depreciates amid coronavirus situation in USA

On Monday morning, oil prices show multidirectional dynamics. Brent was on the rise as of 9:20 am by 0.84% ​​to $ 43.16, WTI was down 0.25% to $ 40.55. Restraining uncertainty surrounding further raw material demand prospects. In particular, investors are worried about the increase in the number of diseases coronavirus in the United States, which contributes to the fall in prices for WTI. 1 to 4 July, 15 states had a record number of infections, reports agency Reuters. Re-outbreak carries risk another reduction in oil demand in the country - consumption fuel will decline as more people tend to to stay at home, says Oversea-Chinese Banking economist Howie Lee. In his opinion, the recovery in demand will not be so impetuous, as seen earlier. The supporting factor for the quotes is the threat of reduction supplies from Libya, continuing against the backdrop of political conflict in country.