Investing.com investing.com 22 Dec, 2020 18:45 am

Crude Oil Prices Fall Again on New Covid-19 Strain Worries By Investing.com

Crude Oil Prices Fall Again on New Covid-19 Strain Worries By Investing.com
Crude Oil Prices Fall Again on New Covid-19 Strain Worries

com -- Crude oil prices softened again on Tuesday as the implications of a new strain of the Covid-19 virus for global demand sunk in, while a sharp drop in U.German government scientists said earlier Tuesday that they expected the new strain - which is more contagious than the original one but does not appear to be any more virulent - was already in Germany, even though it hadn't been detected yet.Oil plunges as new coronavirus strain renews demand recovery fears p By Sonali Paul and Koustav Samanta MELBOURNE/SINGAPORE (Reuters) -Oil prices dropped nearly 2% on Tuesday, adding to steep losses from the previous session, as a new strain of the."The price reaction may be triggered by the new Covid-19 strain but the full effect of the decline may be more a result of the market’s realization that despite the vaccine breakthrough, there is still some uncertainty out there, a thought largely ignored in this month’s price rally.

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