Today, Thursday, oil prices continued to record losses, due to the rise of the dollar and the further rise in crude and fuel stocks in the United States, in addition to the impact of the Covid-19 pandemic.
Brent crude fell 2.16 percent to $ 66.53 a barrel, by 13:41 GMT. US crude fell 2.32 percent to $ 63.10 a barrel, after falling 0.3 percent in the previous session. Both contracts have lost more than four percent over the last five sessions.
And government data showed on Wednesday that US crude stocks rose for the fourth week in a row after refineries in the southern United States were forced to close due to severe winter weather.
“The drop in demand for crude from Asian buyers due to the planned maintenance of the refineries and the possible price hike is not supporting oil at this time,” said UBS commodity analyst Giovanni Stonovo.
The slowdown in some coronavirus vaccination campaigns and the possibility of further restrictions to control the pandemic have limited expectations for a recovery in fuel consumption.