Concerns about a collapse in crude oil demand are rising, due to the increasing number of COVID-19 cases around the world and fears of renewed lockdowns.
Brent crude futures fell from $1.27 to $65.18/barrel, down 1.9%.
WTI crude futures fell from $1.37 to $62.32/barrel, down 2.2%.
The global economic slowdown is tempting investors to sell crude oil contracts. Meanwhile, many countries, especially in Asia and Australia, are starting new lockdown measures to stop the spread of the delta variety.
The International Energy Agency (IEA) lowered its forecast for global oil demand in 2021 from 5.4 million barrels/day to 5.3 million barrels/day.
At the same time, the IEA raised its forecast for upfront oil demand growth in 2022 from 3 million barrels/day to 3.2 million barrels/day.
The Spot Market is Closed
Sunday.22 Aug- 2021
| Metals Updated | USD Bid/Ask | Ounce Change | Low/High |
| Gold 04.00 | 1,780.50 1,781.50 | +1.10 0.01% | 1,778.10 1,789.90 |
| Silver 04.00 | 23.03 23.13 | -0.20 -0.88% | 22.83 23.41 |
| Platinum 04.00 | 990.00 1,000.00 | +21.00 2.17% | 965.00 1,004.00 |
| Palladium 04.00 | 2,204.00 2,354.00 | -40.00 -1.78% | 2,200.00 2,422.00 |
| Rhodium 04.00 | 15,100.00 17,100.00 | -1,900.00 -11.18% | 15,100.00 18,800.00 |
| Energy Updated | Price | Change | %Change |
| Crude Oil 07.30 | 61.86 | -1.64 | -2.58% |