Oil prices fell on Monday as investors continued to watch the new executive in the midst of growing concerns that an even more contagious coronavirus mutation would hit the global economy.
The list of countries that are forced to adopt stricter measures due to micron is growing. Norway today adopted new measures, Italy decided to extend the emergency, while in the United Kingdom Prime Minister Boris Johnson warned of a new wave of infections due to the micron.
OPEC, however, appeared optimistic in its latest monthly market report, saying the impact of the micron mutation was expected to be “moderate and short-term”.
In its report, OPEC left unchanged its estimates for demand in 2021 and 2022, despite the rapid spread of the new mutation that has caused global concern.
In this climate, January crude for January delivery lost 38 cents, or 0.5%, to close at $ 71.29 a barrel on the New York Mercantile Exchange.
Brent February fell 76 cents, or 1%, to $ 74.39 a barrel on ICE Futures.
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