The price of Brent crude oil on December 22 decreased by 2.01% to $ 49.79. A new strain of coronavirus in the UK has revived fears about the global economic recovery, Vladislav Antonov, an analyst at IAC Alpari, told a REGNUM correspondent.
Due to lockdowns, investors are pessimistic about the demand for raw materials in 2021. The new strain of coronavirus shook markets, but fears eased as vaccine makers pledged they would protect the body from it.
Starting in the new year, vaccines will be widely distributed, which will give investors optimism about the recovery in oil demand.
The oil market was also negatively affected by the message that Donald Trump refused to sign the $ 900 billion package of economic assistance adopted by Congress the day before and demanded its revision.
Trump demanded that Congress amend the law and "raise the amount of $ 600 to $ 2,000 or $ 4,000 for spouses," as well as get rid of unnecessary articles.
Today, December 23, at the auctions in Asia, oil continues to trade in the red. A barrel of Brent oil costs $ 49.33 (-0.94%). The technical picture turns bearish.
Considering that the week is festive, the risks of the price falling to $ 47.90 increased due to the reduced trading volumes.
