Wednesday, March 05, 2025 | 09:22 PM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Oil prices fall $1 on surging Covid cases in China, firmer US dollar

Covid-19 cases climbed in China over the weekend, with Beijing and other big cities on Monday reporting record infections

Photo: Bloomberg
Premium

Photo: Bloomberg

Reuters London
Oil prices fell on Monday, dragged down by a firmer US dollar while surging coronavirus cases in China dashed hopes of a swift reopening of the economy for the world's biggest crude importer. Brent crude futures were down $1.01, or 1.1%, at $94.98 a barrel by 1030 GMT after gaining 1.1% on Friday. WTI crude futures fell $1.11, or 1.3%, to $87.85 after advancing 2.9% on Friday.

"US dollar strength appears to be weighing on oil and the broader commodities complex this afternoon," said Warren Patterson, head of commodities strategy at ING.
 
"There probably is also an element where the market

Disclaimer: No Business Standard Journalist was involved in creation of this content

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in