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Oil prices fall by more than 3% with the increase in HIV infections and the recovery of Libyan production

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Monday, October 26, 2020 - 17:27
Point Trader Group
Oil prices fall by more than 3% with the increase in HIV infections and the recovery of Libyan production

Oil futures prices fell more than three percent during trading Monday, October 26, extending losses last week with the continued rise in cases of Coronavirus in the United States and Europe, while the recovery of crude production in Libya raises fears of an abundance of supplies.

Brent crude, the world benchmark for nearest-maturity, was down 3.16% at $ 40.42 a barrel by 1615 GMT.

US West Texas Intermediate crude futures fell 3.25% to $ 38.51 a barrel.

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