Concern about lower fuel demand drives oil price down
A stronger dollar, supported by hopes for more stimulus to boost the US economy, is also weighing on oil prices
11 January 2021 - 13:10
London — Brent crude oil prices fell as much as $1 per barrel on Monday, hit by renewed concerns about global fuel demand amid tough coronavirus lockdowns across the globe, as well as a stronger US dollar.
Brent was down 80 US cents, or 1.4%, at $55.19 a barrel at 10.10am GMT, after falling $1 to a session low of $54.99 earlier...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.