Economy

Oil slides as fears grow that coronavirus resurgence could stunt fuel demand recovery



Oil prices fell on Friday, reversing earlier gains, as the resurgence of the coronavirus globally and in the United States, the world’s largest oil consumer, stoked worries that a fuel demand recovery could stall.

 

Brent crude LCOc1 futures were down 35 cents, or 0.8%, at $42.79 a barrel as of 0633 GMT, and U.S. West Texas Intermediate (WTI) crude CLc1 futures fell 35 cents, or 0.9%, to $40.30 a barrel.

 

Both benchmarks rose more than 2% on Thursday, buoyed by stronger-than-expected U.S. jobs data and a fall in U.S. crude inventories. For the week, Brent is up 4.3% and WTI is up 4.7%.

 

Increases in the daily cases of the coronavirus, however, globally and in the United States pressured prices. New U.S. COVID-19 case...
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Commemoration of 3 Kurdish activists shot in Paris


Thursday, Kurds saluted the seventh anniversary of the assassination of 3 Kurdish women activists in France.

 

The crime took place on January 9, 2013, targeting 3 female Kurdi...


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Quarantined citizen in Sulaymaniyah: services provided are impossible for major countries


One of the citizens inside a quarantine center in the city of Sulaymaniyah said that what the medical and administrative staff provide is not possible for major countries to provide, and that the q...


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George Floyd: Huge protests against racism held across US


Huge peaceful rallies have taken place across the US against racism and police brutality on the 12th day of protests sparked by the death of George Floyd.

 

Tens of thousands o...


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