Oil prices crashed after the news of Trump's coronavirus infection

As reported by the economic information agency Prime, as of 8.16 am Moscow time, the price of December futures for North Sea Brent crude oil mixture fell by 1.98%, reaching $ 40.12 per barrel.

"The cost of November futures for WTI fell by 2.01%, to $ 37.94 per barrel", - said in the message.

The message that he and his wife were diagnosed with the coronavirus, Trump posted on his Twitter. At the same time, it became known that the infection with COVID-19 was confirmed by Trump's closest aide Hope Hicks. Before the news about the illness of the head of state and the first lady, the oil price fell by only 1%.

As noted by Rambler, the day before, WTI oil produced in Texas fell in price by about 5% compared to the level of the previous trading session (to $ 37.8 per barrel), and the price of a barrel of Brent crude oil fell below $ 40 for the first time since September 15 (39 , 95 per barrel, a decrease of 5.5% to the level of the previous close).

According to experts, forecasts on the oil market look disappointing for suppliers: against the background of increasing supply, demand is falling.

Earlier it became known that oil production in Libya increased from 150 to 270 thousand barrels per day. The markets immediately reacted to this.

Along with the change in production volumes, oil prices are significantly affected by investor fears regarding the start of the second wave of coronavirus, which threatens to become a serious deterrent to the development of the global economy.

An outbreak of COVID-19 infection caused by the SARS-CoV-2 coronavirus began in December in China. The number of cases in the world has already exceeded 34.2 million. In the United States, the number of cases exceeded 7.2 million, this country ranks first in the world in terms of infection rates.