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Oil prices continue falling, and Brent is at $49.29 a barrel

23.12.2020,11:35


December 23, Fineko/abc.az. Oil prices keep on falling in Wednesday’s trading amid the concerns the oil demand can weaken because of the spread of a new type of coronavirus and the introduction of restrictive measures in this regard.

A new strain of coronavirus reported from the UK has already been detected in Germany, France and Switzerland. More than 40 countries have restricted air traffic to Britain.

By 9:21 am, at the London ICE Futures Exchange February’s Brent crude futures fell by $0.79 (1.58%) to $49.29 a barrel. At the end of trading on 22 December the Brent futures for February fell in price by $0.83 (1.63%) to $50.08 a barrel.

By 9:21 am, at the New York Mercantile Exchange (NYMEX) the WTI oil futures for February fell in price by $0.75 (1.60%) to $46.27 per barrel. At the end of trading on 22 December the WTI oil futures for February fell by $0.95 (1.98%) to $47.02 per barrel.