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Brent crude prices declined 1.4 percent to $103.48 a barrel on Thursday morning, while WTI futures fell 1.3 percent to $100.69 a barrel.
The situation in China continues to influence oil prices. For example, the country, which is one of the largest users of the resource, continues to suffer anti-commodity laws, which makes merchants apprehensive of demand.
"China has already experienced considerable demand losses in recent weeks as a result of measures to contain the spread of COVID-19, with additional concerns growing as the number of cases in Beijing rises," according to Schneider Electric commodities analyst Robbie Fraser, as quoted by Market Watch.
source: marketwatch.com
The situation in China continues to influence oil prices. For example, the country, which is one of the largest users of the resource, continues to suffer anti-commodity laws, which makes merchants apprehensive of demand.
"China has already experienced considerable demand losses in recent weeks as a result of measures to contain the spread of COVID-19, with additional concerns growing as the number of cases in Beijing rises," according to Schneider Electric commodities analyst Robbie Fraser, as quoted by Market Watch.
source: marketwatch.com
