Because of the closure and the new Corona wave ... the decline in oil prices and European stocks

Oil prices fell more than 3% today, Tuesday, as they were affected by fears that new restrictions imposed to combat the Corona virus pandemic and the slow distribution of vaccines in Europe will slow the recovery in demand, and the rise of the dollar is putting pressure.

Concurrently, European stocks fell from their peak of a year;

A new wave of coronavirus infections and general isolation measures in Germany have raised concerns about a slowdown in the economy's recovery from the pandemic shock.

Falling European stocks

The European STOXX Europe 600 index fell 0.7%, after a new round of sanctions targeting China;

This negatively affected the Asian markets.

The German DAX index fell by 0.8%, after German Chancellor Angela Merkel announced today that the general isolation measures will be extended until April 18, and urged citizens to stay at home during the Easter holiday.

The death toll from new Corona infections in France accelerated, despite the start of the third closure, while Austria postponed the reopening of cafes and restaurants.

Travel and tourism stocks declined again, as shares in "IAG", which owns British Airways, "easyJet" and British "TUI" travel company, fell between 2 and 3%.

Swedish truck maker Volvo fell 7.1%, after the company warned that a semiconductor shortage would have a major impact on production in the second quarter.

Falling oil prices

Brent crude futures fell a dollar, or the equivalent of one percent, to a dollar a barrel by 09:48 GMT (12:48 Mecca time), and U.S. West Texas Intermediate crude futures fell a dollar - or the equivalent of one percent to a dollar - a barrel.

Commerzbank said, "The continent of Europe is tightening measures of the Corona virus, and thus strengthening restrictions on movement."

And the extension of closures is driven by the risk of a third wave of infections, in light of the spread of new strains of the virus on the continent.

Germany - the largest consumer of oil in Europe - extends the general isolation measures until April 18 next, and calls on citizens to stay at home;

In an effort to stop the third wave of the Corona pandemic.

The rise in the US dollar also negatively affected prices.

In light of the pricing of oil in dollars, the rise in the US currency increases the cost of oil for holders of other currencies.