Oil dips 1% as demand worries loom

Thursday, 26. November 2020 10:07

Crude futures declined on Thursday after the rally from the day before, with the demand anxiety taking hold among traders as daily numbers of both COVID-19 cases and deaths continued to rise.

Exxon Mobil reportedly changed its forecast for oil prices during the next ten years, asserting that the negative impact of the pandemic will be felt heavily during the coming seven years, at least.

WTI for deliveries in January dropped 1.47% at 3:56 am ET, selling for $45.05 per barrel, while Brent for the same month's settlement dipped 1.42% to go for $47.92 per barrel at the same time.

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Breaking the News / BU