Oil prices fall in light of fears of “Corona” measures

SANAA, Jan. 25 (YPA) – Oil prices fell in the second consecutive session, on Monday, as renewed lockdown measures to combat “Covid-19” raised new concerns about global demand for fuel.
By 07:17 GMT, Brent crude futures were down eight cents, or 0.1 percent, to $ 55.38 a barrel, while U.S. West Texas Intermediate crude was down at $ 52.26 a barrel, down by a cent.
ANZ analysts said that “indications of weaker demand are pressing the market”, referring to lockdown measures in Hong Kong, China and possibly France in light of the rise in Covid-19 cases, which restricts business activities and fuel consumption.