<Anchor> Over the

night, international oil prices fell again. Reductions in demand due to corona19 and shortages in storage continue to drive down oil prices. However, US and European stocks rose at the same time in anticipation of resuming economic activity.

This is a report from Jung Joon-hyung.

<Reporter> In

June, the West Texas crude oil traded at the New York Mercantile Exchange in the US at $ 12.78, down 24.6% per barrel.

At one point during the week, he was pushed over 30% and fell to the $ 11 line.

British-made Brent oil, which is considered as the standard for international crude oil prices, also fell more than 6% per barrel, declining.

International oil prices plunged again because of the sharp drop in crude oil demand caused by the Corona 19 crisis, and concerns over oversupply remained.

Major oil producers are expected to cut 9.7 million barrels of oil per day starting next month, as originally agreed.

However, some point out that the reduction in oil, which is estimated to be 30 to 30 million barrels per day, is not enough.

In particular, it is also evaluated that the prospect of reaching a so-called 'tank top', which is full of world crude oil storage tanks in the next few months, has been negatively affecting oil prices.

In this regard, the Wall Street Journal said, "Oil stocks are growing at a monstrous rate of 10 million barrels per day."

Despite the plunge in international oil prices, New York and European stocks rose at the same time in anticipation of eased containment and resumption of economic activity.