Oli prices fall below $50 a barrel
- Written by E.Tsiliopoulos
The price of crude fell today below the symbolic threshold of $ 50 a barrel, for the first time since October 2017, due to worries about global growth and, consequently, demand.
At the New York Mercantile Exchange (Nymex), the January deliveries for lightweight declined by $ 1.32 (-2.36%) to close at $ 49.88 a barrel.
Oil prices had fallen back below $ 50 in late November, during the session, but then rebounded again. Oil prices "began to decline after the downward trend in Wall Street trading," said ClipperData analyst, Matt Smith. "In an already vulnerable market, any indication of slowing growth in the coming months" affects oil demand, he recalled.
Recently, the rise in US oil from shale and the likely fall in global fuel demand has damaged market confidence despite OPEC and its partners' efforts to balance the price of black gold, analyst at Phillip Futures Benjamin Lou said,.
Related items
-
Greek Defense Minister tells AHI audience U.S. has “reliable partner” in Greece
-
The article praising Greece in "Monocle"
-
Pissarides Committee plan on Greece's development posted for public consultation
-
Thessaloniki: Young people beat police officers who went to check on them - One injured (vid)
-
Albanians with Covid – 30,000 euros for hospitalization in Turkey, free with a fake test in Greece
Latest from E.Tsiliopoulos
- Greek Defense Minister tells AHI audience U.S. has “reliable partner” in Greece
- The article praising Greece in "Monocle"
- Pissarides Committee plan on Greece's development posted for public consultation
- Thessaloniki: Young people beat police officers who went to check on them - One injured (vid)
- Albanians with Covid – 30,000 euros for hospitalization in Turkey, free with a fake test in Greece