Oil prices fell late Thursday. Brent crude oil contracts fell 3.1% to $66.13.
WTI crude futures fell 3.5% to $63.18.
The main reason is the increase in the number of people infected with COVID-19 around the world. Oil prices were affected by the weak economic situation in China, the world’s largest oil importer.
The delta variant is becoming more widespread, bringing back memories of last year when many countries had completely scaled back their economies.
In addition, a strengthening dollar is not making it easy for oil prices at the moment. A strong dollar makes oil more expensive for other currencies.
There is also concern about falling fuel demand and an increase in gasoline inventories in the US.
The drop in oil prices to $66 a barrel on Thursday was the lowest since May.
The Spot Market is Open
Fri. 20 Aug- 2021
| Metals Updated at | USD Bid/Ask | Ounce Change | Low/High |
| Gold 07.00 | 1,779.30 1,780.30 | -1.10 -0.06% | 1,778.90 1,782.90 |
| Sliver 07.00 | 23.20 23.30 | -0.04 -0.15% | 23.18 23.34 |
| Platinum 07.00 | 966.00 976.00 | -3.00 -0.31% | 965.00 979.00 |
| Palladium 07.00 | 2,241.00 2,391.00 | -3.00 -0.13% | 2,235.00 2,391.00 |
| Rhodium 06.00 | 16,800 18,800 | -200.00 -1.18% | 16,800.00 18,800.00 |
| Energy Updated at | Price | Change | %Change |
| Crude oil 07.00 | 63.99 | -1.47 | -2.25% |