Global oil prices fell with the opening of the weekly trading with the control of a state of fears for investors with the acceleration of the infection rate of Corona virus globally and the suspension of many works, which will undoubtedly affect the demand for oil in the coming period. West Texas crude fell 6.4% to $ 29.76 bpd, while Brent crude fell 8.5% to $ 31.01 bpd.
These declines come today after the massive losses suffered by world prices last week, which resulted in the loss of more than 23% of their value, which is the worst weekly performance since the global financial crisis, despite the strong increases recorded at the end of the week after the American President Donald announced Trump reported increasing the country's strategic oil reserves and benefiting from low prices.
