The economic concern with this new setback is general, and the restrictions still related to covid-19 in China - the main oil importer on a world scale - and expectations of further interest rate increases could lead to lower demand for fuel. , leveraged by the expected global economic recession.
Brent, which serves as a benchmark for national exports, fell 1.41 percent to 91.5 dollars per barrel, after a three percent drop in the previous session. According to the market, the contract even reached a session low of 91.35 dollars, the lowest since February 18th.
US West Texas Intermediate (WTI) crude lost 1.6 percent. This dragged the North American benchmark to a low not seen since January 26th.
Investors thus remain concerned, taking into account the restrictive Chinese policy in the face of the pandemic - which imposes confinements - the aggressive rate increases and the slowdown in growth on a global scale, says Reuters, quoted by the Market.
