The oil price fell on Monday. A barrel (159 liters) of North Sea Brent cost $97.64 in the morning. That was $0.97 less than Friday. The price of a barrel of West Texas Intermediate (WTI) fell $1.17 to $91.44.
After speculation in the markets about an easing of the harsh corona policy in China failed to materialize, oil prices came under pressure. The harsh corona policy is weighing on economic development in China and is slowing down demand.
Chinese exports unexpectedly fell in October. Observers cited weak global demand as the reason for the decline. In addition, the ongoing strict corona restrictions in China would lead to ongoing problems in the supply chains. The Chinese export apparatus had already lost strength in recent months.
(yam/sda/awp/dpa)
Soource :Watson
I’m Ella Sammie, author specializing in the Technology sector. I have been writing for 24 Instatnt News since 2020, and am passionate about staying up to date with the latest developments in this ever-changing industry.
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