NEW YORK / LONDON (dpa-AFX) – Oil prices barely moved on Monday. Quotations rose slightly around noon after being under slight pressure in the morning. A barrel (159 liters) of the North Sea type Brent last cost $ 43.49. That was 15 cents more than on Friday. The price of a barrel of the American variety West Texas Intermediate (WTI) also rose by 15 cents to $ 41.44.
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Market observers spoke of a low-impulse start to the week at the oil market. According to the raw materials expert Eugen Weinberg from Commerzbank, two factors are currently affecting oil prices. On the one hand, the risks of a weaker recovery in demand due to the further development of the corona pandemic are burdening. On the other hand, the weaker US dollar and the hope for further corona aid in the US are supporting.
It was announced on Friday evening that the number of active wells in the United States had increased for the first time since mid-March. According to the outfitter Baker Hughes, there was an increase by one plant to 181 in the past week. The number of holes thus remained at a comparatively low level./jkr/jsl/fba
