Oil prices dropped 4% on Thursday to their lowest since mid-June, extending the previous day’s sharp decline on the probable impact renewed coronavirus lockdowns will have oil on demand.
December Brent crude futures were down $1.52, or 3.9%, at $37.60 by 1029 GMT. The more active January lost $1.48 a barrel to $38.16. US West Texas Intermediate (WYI) crude futures plummeted $1.52, or 4.1%, to $35.87. Both contracts dropped by more than 5% on Wednesday.
With coronavirus cases increasing across Europe, France will need people to remain home for all but essential activities on Friday, while Germany will close bars, restaurants and theatres from November 2 until the end of the month.