<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, despite the fall in oil prices, the US and European stock markets surged overnight as expectations of economic activity resumed.

This is Jung Joon-hyung.

<Reporter> In

June at the New York Mercantile Exchange in the United States, crude oil from West Texas for delivery in June closed 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.

The international oil price plunged again because of the sharp drop in crude oil demand due to the corona19 crisis, and concerns about oversupply remained.

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

However, it is pointed out that the demand decline, which is estimated to be 30 to 30 million barrels per day, is not enough.

It is also estimated that the steep rise in crude oil inventory will reach the so-called 'tank top', which will fill the world's crude oil storage tanks in the next few months.

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 oil prices, New York and European stocks all rose at the same time with anticipation of easing containment and resuming economic activity.