Oil drops, Brent falls back below $44

2020-11-19 18:41:04 GMT (Economies.com)
Oil drops, Brent falls back below $44

Oil prices fell on Thursday, as the US dollar rose against most majors, amid fears over the escalating coronavirus crisis.

 

Investors are anticipating the OPEC-Plus meeting by the end of this month, to review the latest developments in the market as some countries are facing a second wave of Covid-19 infections.

 

OPEC-Plus will also discuss demand and supply amid expectations of delaying the planned output increase in the coming period.

 

The dollar index rose against a basket of major currencies by 0.2% to 92.4 points as of 18:05 GMT, after hitting a high of 92.7 points and a low of 92.4 points.

 

As of 18:05 GMT, WTI crude December futures fell 0.8% to $41.4 a barrel, after hitting a high of $41.8 and a low of $41.08.

 

Brent January futures fell 1% to $43.9 a barrel, after hitting a high of $44.5 and a low of $43.7.

 
 
 
  Symbol Last Change Chg.%
1.1923
0.0029
0.2413%
1.3334
-0.0049
0.3639%
Tadawul
8693.47
65.41
0.76%
23.278
-0.767
3.192%
45.335
2.510
5.861%
48.07
0.24
0.50%
1808.665
-57.845
3.099%
 
 
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