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The English News

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  • UK
    • The Toxic Legacy of the Roper-Curzon Family: racism, scandals, and obsession with ...

      25th April 2023
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    • United Kingdom Extends Household Support Scheme Until June

      United Kingdom Extends Household Support Scheme Until June

      15th March 2023
      0
    • British Prime Minister Creates Two New Ministries, Including One for Energy Security

      British Prime Minister Creates Two New Ministries, Including One for Energy Security

      7th February 2023
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    • Fear of Terrorism After Uranium Found at Heathrow Airport in London

      Fear of Terrorism After Uranium Found at Heathrow Airport in London

      11th January 2023
      0
    • Liz Truss New Prime Minister of the United Kingdom

      Liz Truss New Prime Minister of the United Kingdom

      5th September 2022
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    • The 4 Best UK Tours to Embark On This Autumn 2022

      The 4 Best UK Tours to Embark On This Autumn 2022

      16th August 2022
      0
    • United Kingdom Extends Household Support Scheme Until June

      Britain's Worst Rail Strike in 30 Years

      21st June 2022
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    • British Journalist Slams Republican Senator Ted Cruz With Critical Questions About Texas Shooting

      British Journalist Slams Republican Senator Ted Cruz With Critical Questions About Texas ...

      27th May 2022
      0
    • United Kingdom Extends Household Support Scheme Until June

      British Intelligence Confirms Russian Attacks on Azovstal

      6th May 2022
      0
  • US
    • Truck Drives into Security Barrier Near White House, Suspect Arrested

      Truck Drives into Security Barrier Near White House, Suspect Arrested

      23rd May 2023
      0
    • Facebook Founder Zuckerberg Charged With Ignoring Exploitation

      Facebook Founder Zuckerberg Charged With Ignoring Exploitation

      22nd March 2023
      0
    • Occidental Rises on Wall Street After Buffett Purchases

      Occidental Rises on Wall Street After Buffett Purchases

      8th March 2023
      0
    • Social Media Protection for the US Supreme Court

      Social Media Protection for the US Supreme Court

      21st February 2023
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    • Tesla Employees Want to Join a Union Against Work Pressure

      Tesla Employees Want to Join a Union Against Work Pressure

      14th February 2023
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    • American Arrested for Walking Calf on Red Square: I Wanted to Show Him the Capital

      American Arrested for Walking Calf on Red Square: I Wanted to Show ...

      1st February 2023
      0
    • Dozens Injured in Severe Turbulence on American Flight: Glad That Everyone Will Survive

      Dozens Injured in Severe Turbulence on American Flight: Glad That Everyone Will ...

      19th December 2022
      0
    • Democratic House Speaker Nancy Pelosi Re-elected

      Democratic House Speaker Nancy Pelosi Re-elected

      9th November 2022
      0
    • Corona Outbreak in iPhone Factory Can Severely Limit Production

      Corona Outbreak in iPhone Factory Can Severely Limit Production

      31st October 2022
      0
  • Europe
    • Finland will Join NATO on Tuesday

      Finland will Join NATO on Tuesday

      3rd April 2023
      0
    • Economists: Eurozone Inflation Will Also be Higher Than ECB target in 2025

      Economists: Eurozone Inflation Will Also be Higher Than ECB target in 2025

      13th February 2023
      0
    • EU Opens Ukrainian Crime Prosecution Centre in The Hague

      EU Opens Ukrainian Crime Prosecution Centre in The Hague

      2nd February 2023
      0
    • Disciplinary Committee Banks Again Imposes Heavy Punishment

      Disciplinary Committee Banks Again Impose Heavy Punishment

      17th January 2023
      0
    • Four Out of Five Cars Sold in Norway are Electric

      Four Out of Five Cars Sold in Norway are Electric

      3rd January 2023
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    • Every Year 35,000 Europeans Die From Drug Insensitivity

      Every Year 35,000 Europeans Die From Drug Insensitivity

      17th November 2022
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    • Warmest October Since the Start of Measurements in Spain

      Warmest October Since the Start of Measurements in Spain

      7th November 2022
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    • Poland Erects Fence Along Border With Russian Exclave of Kaliningrad

      Poland Erects Fence Along Border With Russian Exclave of Kaliningrad

      2nd November 2022
      0
    • EU Opens Ukrainian Crime Prosecution Centre in The Hague

      European Commission Still Sees Room for Gas Price Ceiling

      5th October 2022
      0
  • International
    • International Court of Justice Orders Myanmar to Take Measures for Rohingya

      International Court of Justice Orders Myanmar to Take Measures for Rohingya

      23rd January 2020
      0
    • Lebanese Hezbollah Calls for Revenge on the US

      Lebanese Hezbollah Calls for Revenge on the US

      3rd January 2020
      0
    • Greta's father: I Adjusted My Lifestyle, Not for the Climate, but to Save My Daughter

      Greta's father: I Adjusted My Lifestyle, Not for the Climate, but to ...

      30th December 2019
      0
    • Pope Francis Speaks Urbi and Orbi and Calls for Guaranteeing Safety in the Middle East

      Pope Francis Speaks Urbi and Orbi and Calls for Guaranteeing Safety in ...

      25th December 2019
      0
    • Five of Eleven Death Sentences after Journalist Khashoggi Murder

      Five of Eleven Death Sentences after Journalist Khashoggi Murder

      23rd December 2019
      0
    • Indian Rape Victim Who was Set On Fire has Now Died

      Indian Rape Victim Who was Set On Fire has Now Died

      7th December 2019
      0
    • Barnier

      Brexit Conversations Yielded Nothing

      15th October 2019
      0
    • Juncker Gives Johnson The Last Brexit Plan A Chance

      3rd October 2019
      0
    • Cristiano News

      "Not Messi, But Ronaldo Earned This Prize"

      26th September 2019
      0
  • Technology
    • Twitter is Making API Free Again for Public Notifications From Verified Accounts

      Twitter is Making API Free Again for Public Notifications From Verified Accounts

      5th May 2023
      0
    • Code That ChatGPT Writes is Usually Insecure

      Code That ChatGPT Writes is Usually Insecure

      24th April 2023
      0
    • Alternative Browser Vivaldi Arrives at Version 6.0

      Alternative Browser Vivaldi Arrives at Version 6.0

      18th April 2023
      0
    • Sharing Source Code Twitter Leaked on the Internet

      Sharing Source Code Twitter Leaked on the Internet

      27th March 2023
      0
    • Facebook Founder Zuckerberg Charged With Ignoring Exploitation

      Facebook Founder Zuckerberg Charged With Ignoring Exploitation

      22nd March 2023
      0
    • Advertising Rules for Virtual Coins: The Only Guarantee in Crypto is the Risk

      Advertising Rules for Virtual Coins: The Only Guarantee in Crypto is the ...

      20th March 2023
      0
    • Hugging Face and AWS will Collaborate for AI Creations

      Hugging Face and AWS will Collaborate on AI Creations

      22nd February 2023
      0
    • Social Media Protection for the US Supreme Court

      Social Media Protection for the US Supreme Court

      21st February 2023
      0
    • Google is Working on an iOS Browser That Violates App Store Rules

      Google is Working on an iOS Browser That Violates App Store Rules

      6th February 2023
      0
  • Business
    • Global Expansion Made Easy: Virtual IBANs for International Businesses

      22nd August 2023
      0
    • Why Your Business Needs Embedded Finance

      Why Your Business Needs Embedded Finance

      27th July 2023
      0
    • The Benefits of Embedded Finance: Why it is the Future of Financial ...

      22nd June 2023
      0
    • Kazakhstan Wants Money From Shell, Among Others, and is Going to Court

      Kazakhstan Wants Money From Shell, Among Others, and is Going to Court

      11th April 2023
      0
    • Advertising Rules for Virtual Coins: The Only Guarantee in Crypto is the Risk

      Advertising Rules for Virtual Coins: The Only Guarantee in Crypto is the ...

      20th March 2023
      0
    • United Kingdom Extends Household Support Scheme Until June

      United Kingdom Extends Household Support Scheme Until June

      15th March 2023
      0
    • Expensive Oil Gives Russia A $300 Billion Trade Surplus Despite War With Ukraine

      Expensive Oil Gives Russia A $300 Billion Trade Surplus Despite War With ...

      13th March 2023
      0
    • Occidental Rises on Wall Street After Buffett Purchases

      Occidental Rises on Wall Street After Buffett Purchases

      8th March 2023
      0
    • Tesla Employees Want to Join a Union Against Work Pressure

      Tesla Employees Want to Join a Union Against Work Pressure

      14th February 2023
      0
  • Sports
    • MotoGP Driver Bagnaia Apologizes for Drunk Driving

      MotoGP Driver Bagnaia Apologizes for Drunk Driving

      6th July 2022
      0
    • Djokovic Cancels Cincinnati Tennis Tournament

      Djokovic Cancels Cincinnati Tennis Tournament

      10th August 2021
      0
    • Japan Extends Corona Emergency Around Tokyo

      Japan Extends Corona Emergency Around Tokyo

      30th July 2021
      0
    • Andy Murray: Olympics can Offer Hope

      Andy Murray: Olympics can Offer Hope

      21st July 2021
      0
    • Czech Volleyball Beach Player Tests Positive in Olympic Games

      Czech Volleyball Beach Player Tests Positive in Olympic Games

      19th July 2021
      0
    • Tokyo Olympic Athletes Village Officially Opens

      Tokyo Olympic Athletes Village Officially Opens

      13th July 2021
      0
    • Japan Extends Corona Emergency Around Tokyo

      Advice From Japanese Doctors: Do Not Allow Spectators During Games

      18th June 2021
      0
    • Nadal Back in Second Place in the World Ranking After Tournament Win

      Nadal Back in Second Place in the World Ranking After Tournament Win

      26th April 2021
      0
    • Basketball Players LA Lakers Second Defeat in NBA

      Basketball Players LA Lakers Second Defeat in NBA

      29th December 2020
      0
  • Travel
    • The 4 Best UK Tours to Embark On This Autumn 2022

      The 4 Best UK Tours to Embark On This Autumn 2022

      16th August 2022
      0
    • Top 6 Campsites in Canada

      Top 6 Campsites in Canada

      18th December 2018
      0
    • Alberta-Canada

      10 Most Photogenic Places On Earth

      3rd May 2018
      0
    • HuaShanChina

      Hua Shan Trail In China

      1st May 2018
      0
    • Holiday

      5 Most Popular Holiday Destinations

      29th April 2018
      0
    • Khao Yai Travel

      Khao Yai- Heaven on Earth

      22nd April 2018
      0
    • Job in Australia

      10 Steps to Get A Job in Australia

      22nd April 2018
      0
    • Summer Camaaaaaaaps

      How to Enjoy a Great Time at Summer Camps?

      21st April 2018
      0
    • Perfect Lads Holidays

      4 Tips for Planning the Perfect Lads Holidays

      20th April 2018
      0
  • Global Expansion Made Easy: Virtual IBANs for International Businesses

  • Why Your Business Needs Embedded Finance

  • The Benefits of Embedded Finance: Why it is the Future of Financial Services

  • Truck Drives into Security Barrier Near White House, Suspect Arrested

  • Meager Russian May 9 Parade With Only One Old Tank

BusinessNews
Home›Business›Oil Prices Fell Sharply on Monday for Fear of the Coronavirus

Oil Prices Fell Sharply on Monday for Fear of the Coronavirus

By James Anderson
27th January 2020
1151
0
Share:
Goldman Sachs Investment Bank Sees Oil Price Rise Further

Oil prices fell sharply on Monday for fear of the coronavirus. The outbreak of that disease in Asia may depress fuel demand. Saudi Arabia said it was keeping a close eye on the situation, but still seeing little difference in the need for oil.

 

The price of a barrel of oil fell more than 3 percent early on Monday morning after China announced new contagion rates. Around 8.10, a barrel of American oil was still worth 2 percent less than $ 53.09. Brent oil was almost 2 percent cheaper and cost $ 59.52 a barrel.

Analysts expect the virus outbreak to bother the Chinese economy for some time. Companies there will stay closed for longer now that the Chinese government has extended the holiday around the Chinese New Year. However, oil prices overreact. Traders think the market experts are preparing for the worst case.

Saudi oil minister Abdulaziz bin Salman says he is keeping a close eye on the situation. He compares the case with the outbreak of the SARS virus in 2003 when the same form of “extreme pessimism” got hold of on the market. Even then, according to Bin Salman, there was “no significant decline in global demand for oil.”

Prices of agricultural products were also under pressure due to concerns about the coronavirus, including soybeans, corn and grain. Traders think that the outbreak will hit demand in China.

The price of iron ore also fell sharply, causing the virus outbreak to undermine the Chinese economy, resulting in weaker steel demand. In contrast, the gold price was on the rise. Investors flee in troubled times on the financial markets in ports considered safe such as gold.

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