Oil prices rise amid fears of the continuing outbreak of Corona, and US crude futures are at $82.42 a barrel.
Oil prices rose, today, Friday, in light of economic concerns over demand for crude in the near term due to the high number of infections with the Corona virus.
US crude futures (West Texas Intermediate) rose 0.37% to $82.42 a barrel.
Brent crude futures rose 0.51% to $84.90 a barrel, according to Bloomberg website data.
The rise comes, at a time when media outlets quoted sources, that “China will release quantities of crude from its national strategic stocks during the Lunar New Year holiday,” which begins on the first of next February, as part of a plan coordinated by the United States. With other major consumers to lower global prices.
According to media sources, China has agreed in late 2021 to withdraw quantities of oil from stockpiles, depending on the levels of black gold prices in the markets.
Volubility Gas futures rose in Europe, during Friday’s trading, significantly, and exceeded the level of 1100 dollars per thousand cubic meters of gas.