Crude oil prices fall sharply in Asian markets

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Asian markets saw a drop in crude oil prices, due to rising US crude oil reserves.

Crude oil prices have declined in Asian markets. The decline in crude oil prices by more than 1.5 per cent is due to oversupply of crude oil.

US crude oil price reached ???? 33.16 cents a barrel. Brent crude oil price reached  US$ 35.8 cents a barrel. Gold price per ounce was US$ 1718.70 

According to industry analysts, the decline in crude oil prices is due to the increase in US crude oil reserves. On the other hand, the price of gold per ounce in Asian markets increased by four dollars and ninety-five cents.

Corona virus is having a profound effect on global trade. Analysts say that one of the reasons for the recent fluctuations in oil prices is the worldwide lockdown.


 

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