“Not only me, but all markets associate this with the outbreak of the coronavirus in China.
The markets became aware of this somewhere from Monday, and from that time the price fell.
Financial analysts draw the following conclusion: "Since the quarantine has gone, albeit not of such a strong degree of severity, but nevertheless restricting the travel of citizens, since transportation is limited, this means that this will lead to some kind of suspension of the economy and business activity."
Therefore, the demand for oil will decline, ”the analyst said.
He noted that "this whole story can be quite short."
“Everything will depend on how the events in China will develop further.
This may not have any strong critical impact, but August will be quite difficult, "the source said.
Maslennikov added that although the global economy is recovering at a fairly rapid pace, "all these epidemic things" are beginning to instill nervousness in the markets. "
“Old forecasts have to be revised.
All this affects the main quotes.
And the risks are getting bigger.
For example, yesterday's news of the WHO about a moratorium on revaccination by markets remained clearly misunderstood, ”he concluded.
Earlier it became known that the price of Brent oil fell below $ 70 per barrel.