Data prepared for «Reuters» showed the return of demand for gasoline fuel, after traffic in some capitals of the world started recovering to recorded levels a year ago, following the lifting of restrictions related to the emerging corona virus (Covid 19).
Oil prices fell yesterday, after increased tension between the United States and China, which sparked fears that the pandemic of the emerging Corona virus will overwhelm fuel demand in the world's second largest oil consumer.
Analysts say the escalation of tension between the United States and China over trade, and Beijing's plan to implement national security legislation in Hong Kong, is hurting oil and other markets. And "Brent crude" fell 1.43 dollars, or 4%, to 34.63 dollars a barrel, after falling to the low level of 33.54 dollars a barrel.
In turn, "West Texas Intermediate" fell 1.81 dollars, or 5.3% to 32.11 dollars a barrel, after falling to 30.72 dollars earlier.
Oil prices have risen strongly in recent weeks, and are still on track for the fourth weekly gain after the declines in April 2020, when US crude fell below zero. While US oil inventories fell last week, compared to expectations for an increase, according to official data.
In the equity range, European stocks fell yesterday, as the European Stoxx 600 index fell 1.6%, with stocks exposed to Asia, such as HSBC Holdings, declining 5.5% and Prudential 8.4%.
The British index "Financial Times 100" fell 2%, lagging behind the corresponding indicators in Europe.
Japanese stocks fell yesterday, and the benchmark «Nikkei» index fell 0.8% to 20388.16 points.