Global crude oil prices down by over 3%

Global crude oil prices fell over 3 percent yesterday, hit by concerns that new pandemic curbs and slow vaccine roll-outs in Europe will hold back recovery in demand, while a stronger dollar also weighed.

 

So Brent crude futures slumped 2 dollars and 20 cents, to 62.42 dollars a barrel.

 

US crude futures declined 2



dollars and 10 cents, to 59.46 dollars a barrel.

 

Extended lockdowns are being driven by the threat of a third wave of infections, with a new variant of the coronavirus on the continent. Germany, Europe’s biggest oil consumer, is extending its lockdown until April 18 and asked citizens to stay home.