After a slight strengthening of positions during the previous two days, today's trading session was marked by another decline in oil prices, as this resource has not yet regained its pre-pandemic demand.
West Texas Intermediate crude oil fell 25 cents (0.4%) and Brent crude fell 22 cents (0.3%), after which futures contracts for the supply of these resources were concluded on the terms of purchase at 67.29 dollars and 70.85 US dollars per barrel, respectively.
Experts are inclined to explain the slight rise at the very beginning of the week by the news of a significant reduction in oil production in Mexico, as well as the fact that China, the largest oil importer in the world, is successfully overcoming the latest outbreak of COVID-19 by this time. The news helped oil gain 8% after a seven-day drop in prices, but the trend was short-lived.