Oil prices fall by four on the first day when virus threats return

Gas pump hanging from a gas station in Seoul June 27, 2011. REUTERS / Jo Yong-Hak

TOKYO, Aug. 26 (Reuters) – Oil was down for the first time in four quarters on Thursday, with new concerns about recovery due to further restrictions on covide-19 infections.

Brent’s confidence rose 1.7% on Wednesday and fell by 45 cents or 0.6% at 71.80 barrels at 0222 GMT.

US oil fell 55 cents or 0.8% to $ 67.81 a barrel after gaining 1.2% in the previous session.

Outbreaks of coronavirus in the Delta are worrying about global economic recovery, demand for oil and other commodities. Read more

Given the dangers posed by the Delta Coronavirus, but with accelerated immunization programs, in the second half of the year 2022, there may be a slight stoppage of progress. Eurasia Group is on the note.

US raw materials fell for the third consecutive week last week, helping to raise prices by about 10%, and overall oil demand has risen sharply since March 2020, according to the Energy Information Administration (IAA).

But the picture of interest was not entirely bullying.

Edward Moya, a senior analyst at the Andanden, said:

Divided reserves of diesel and jet fuel (USOILD = ECI) rose 0.6 million barrels to 138.46 million barrels last week, according to the EIA.

USOILC = ECI fell by 3 million barrels a week to August 20, slightly higher than expectations by Reuters analysts for 2.7 million barrels. As of January 2020, at 432.6 million barrels, raw materials were at an all-time low.

Findings in prices this week were so high in Mexico that a fire on a beach platform on Sunday killed at least five workers and produced more than 400,000 barrels (BDD) a day. Read more

Pamex has so far recovered 71,000 bpd and expects to add an additional 110,000 bpd in the next few hours.

Reported by Aaron ld Ledrick; Edited by Tom Hog

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