Business & Economy

Falling oil prices … the reason?

On Friday, oil prices fell from their highest in six weeks, after weak data on Japan’s crude imports and concerns about fuel demand in India, where cases of Covid-19 jump.
The US benchmark West Cassas mediator and the world benchmark Brent crude recorded the biggest one-day loss in more than three weeks, but they ended the month with gains of about 6 percent and 8 percent, respectively, according to Reuters.
Brent contracts ended the trading session down $ 1.31, or 1.9 percent, to settle at $ 67.25 a barrel on the last trading day for contracts for June delivery.
US crude contracts for June delivery fell 1.43 dollars, or 2.2 percent, to settle at 63.58 dollars a barrel.

Ali

A journalist distinguished by pen creativity and source reliability

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