Business WTI falls 7.7% as demand plummets amid coronavirus pandemic

WTI falls 7.7% as demand plummets amid coronavirus pandemic

At the end of trading on the New York Stock Exchange, WTI futures contracts for May delivery were down $ 1.89 from Wednesday’s session.

The price of Texas intermediate oil (WTI) fell this Thursday by 7.7% and closed at $ 22.60 per barrel because of the collapse in fuel demand amid the coronavirus pandemic.

European markets fall again after negative data on employment in the US

At the end of trading on the New York Stock Exchange, WTI futures contracts for May delivery were down $ 1.89 from Wednesday’s session.

Previously, the indices Dow Jones, Nasdaq and S&P 500 grew more than 2%. In particular, the Dow Jones recovered 923.89 points (4.36%) and reached 22,124.44 points. The Nasdaq grew 227.87 points (3.09%), to 7,612.17, while the S&P 500 increased by 92.48 points (3.74%), standing at 2,568.04 points.

Growth occurs despite announcement just before record data on unemployment claims In U.S.A. Their number exceeded 3 million last week after strict measures enacted to contain the coronavirus pandemic, which include the closure of businesses.

Meanwhile, the president of the US Federal Reserve (Fed) Jerome Powell declared on Thursday that his country’s economy “could be in recessionBut I would point to the difference between this and a normal recession. There is nothing fundamentally wrong with our economy. Quite the contrary. We started from a very strong position, “he stressed.

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