Oil on demand fell below $ 66

  • The increase in COVID-19 cases fueled fears of low demand
  • Strong dollar as the federation is on the right track to lose weight this year
  • U.S. gasoline stocks are up compared to yesterday’s analysts ’forecast
  • Brent is down from $ 65.90 since May

LONDON, Aug. 19 (Reuters) – Thursday fell Thursday to less than $ 66, the lowest since May, with COVID-19 cases rising, strong US dollars and a sudden rise in U.S. oil production.

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“The long-running battle with the invisible enemy has led investors to be cautious and cautious, which has gradually led to soft prices,” said PM.

Afghanistan’s tumultuous Taliban invasion, which could be financially avoided, threaten another refugee crisis and threaten the spread of the virus, will keep the dollar in demand, and it will serve as a deterrent to any oil price test. Procession ”

The dollar has reached an all-time high of nine months, and the dollar has depreciated against commodities.

Brent’s confidence has fallen to $ 1.87, or 2.7%, to $ 663.66 since May. May 21.

Both Brent and the United States have lost six consecutive days, the longest loss since the two-day contract expired on February 28, 2020.

Avatrad Naim Aslam, a broker, said:

A gas station host is preparing to fill a car in Rome, Italy, on January 4, 2012. REUTERS / Max Rossi / File Photo

Due to the delta expansion, the International Energy Agency reduced its demand for oil last week. But OPEC forecasts of interest have not changed.

In the Northern Hemisphere, demand for motor oil rose sharply during the summer, and in a weekly supply report, there was an unexpected increase in demand for oil in the United States.

The strong US dollar is under increasing pressure. The dollar is expected to be revised this year by the Federal Reserve. Strong dollar makes oil more expensive for other currency holders and tends to weigh on prices.

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Further report by Yuka Obayashi; Edited by Jane Maryman and Jason Nellie

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