Oil prices fell today, as it was negatively affected by fears of a high incidence of Coronavirus around the world, which could threaten the recovery of demand for fuel.
Brent crude futures fell 0.05% to $ 44.07 a barrel, at 05:55 GMT.
Whereas, US West Texas Intermediate crude futures fell five cents to $ 41.22 a barrel.
And the benchmarks rose yesterday, Wednesday, after the US Energy Information Administration announced the largest drop in one week in crude stocks in the United States since last December.
"Oil should have done much better after the massive drop in US crude stocks, as well as favorable factors from a much weaker US dollar," said Jeffrey Haley, an analyst at Oanda. "Perhaps it is because the oil market takes into account risks higher than an economic decline in United States and elsewhere because of Covid-19 ".
Gold prices also fell during trading today, after the US Federal Reserve pledged to support the economy hit by the Corona virus.
And gold fell in the spot transactions by 0.7% to $ 1957.17 an ounce, by 05:31 GMT. Gold in US futures fell 0.1% to $ 1950.60 an ounce.
Analysts point out that gold has risen more than 28% since the beginning of the year and is well supported by the dollar's decline, the pandemic worsening and the possibility of providing more stimulus.
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