Commodities (11:00 am) – Brent oil price drops to $ 41.58 a barrel | 10.07.20


Oil prices eased early Wednesday on Wednesday. At around 11:00 a.m., the future, which is considered an important oil price benchmark, for the North Sea Brent oil in London was 1.82 percent lighter at $ 41.58 per barrel (159 liters).The worsening corona infection situation, particularly in the USA, is depressing sentiment on the international financial markets. Oil prices are also affected, as the danger of regional corona restrictions threatens economic downturns. The already weak demand for oil and oil products such as petrol would also suffer.

The dollar is another burden. Due to the uncertainty among investors, the US currency is increasingly being used as a reserve currency. The dollar is the dominant trading currency on the oil market. If the motto increases, crude oil will become more expensive for investors outside the dollar zone, which will mostly affect demand.

The price of OPEC oil has also fallen recently. As the OPEC Secretariat in Vienna announced on Friday, the price of a barrel of OPEC oil was set at $ 43.31 a barrel on Thursday. On Wednesday, OPEC had set the price even higher at $ 43.44. The OPEC Prize consists of a basket of twelve varieties.

However, the gold price rose again and held above the $ 1,800 mark. In the London gold trade, the troy ounce (31.10 grams) was traded around $ 1,805.84 today (after $ 1,803.79 on Thursday). The previous evening, the price of an ounce had dropped below the $ 1,800 mark after rising to its highest level since 2011.

(Final) mik / fpr

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