Oil Prices Fall Over New COVID Strain Lockdown & Stronger Dollar

According to a Reuters report, oil prices steadied on Monday after strong gains last week, as tough coronavirus lockdowns around the world renewed concerns about global fuel demand, while a stronger U.S. dollar also weighed on prices.

Brent fell 33 cents to settle at $55.66 a barrel, after bouncing off the session low of $54.99. U.S. West Texas Intermediate (WTI) rose a cent to settle at $52.25 a barrel.

New Strain Lockdown Woes

“The renewed concerns about demand due to very high numbers of new...

https://mfame.guru/oil-prices-fall-over-new-covid-strain-lockdown-stronger-dollar/

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