Oil prices are increasing their losses

UNITED STATES (OBSERVATORY NEWS) — Oil prices continued to fall during trading on Monday, affected by concerns about demand for crude in China after the outbreak of the Corona virus, although the prospects for greater production cuts from OPEC and its allies provided some support to the market.

Brent crude futures fell $ 55.62 a barrel by 1434 GMT, the lowest level since January 2019.

The US benchmark West Texas Intermediate fell 58 cents to $ 50.98 a barrel after hitting earlier in the session $ 50.42, which is also the lowest level since January 2019.


This article is written and prepared by our foreign editors writing for OBSERVATORY NEWS from different countries around the world – material edited and published by OBSERVATORY staff in our newsroom.

Our Standards, Terms of Use: Standard Terms And Conditions.


Contact us: [email protected]

Stay connected with Observatory and Observatory Newsroom, also with our online services and never lost the breaking news stories happening around the world.

Support The OBSERVATORY from as little as $1 – it only takes a minute. Thank you.

We are OBSERVATORY — the only funding and support we get from people – we are categorically not funded by any political party, any government somewhere or from any grouping that supports certain interests – the only support that makes OBSERVATORY possible came from you.