Lotus fuel oil prices in the world market due to the effect of Corona

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Lotus fuel oil prices in the world market due to the effect of Corona



The price of fuel oil has come down again in the world market due to the re-emergence of corona in Europe. At a time when the price of this fuel oil was low, the major buyer countries were going to take various steps to control the fuel market. Reuters published such news on Friday.


Fuel oil prices in the world market began to fall when large industrial and business owners decided to reduce fuel imports due to fears of another corona down. Fuel prices fell 3 percent on Friday. However, even a few days ago, various strategies were being adopted to reduce the price of fuel oil and its impact on the Western economy. In order to control the fuel market, the major buyer countries decided to release their stockpiled fuel oil to the market.


Austria has again given a complete lockdown due to the outbreak of corona in Europe. There are fears that Germany, Europe's largest economy, could face a full-scale lockdown in the face of the corona infection.


Now the price of Brent brand crude oil has dropped by 2.35 percent. At the moment, the price of Brent brand fuel oil is ৮ 8.69 per barrel.


US West Texas Intermediate brand crude oil prices fell 2.46 percent. At the moment, the price of West Texas Intermediate fuel oil is ৯ 85.94 per barrel.


Since March 2020, crude oil prices have fallen four times a week.


Source: Reuters, CNBC

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