Fear of lockdown in China, oil became cheaper in the global market

 

The price of crude oil in the global market has further decreased by 3% due to the fears of lockdown in view of increasing cases of Corona in China.

According to the British news agency Reuters, the price of British crude oil Brent crude oil has decreased by 2.90 dollars to 92.74 dollars per barrel.

Apart from this, the price of US crude oil West Texas Intermediate (WTI) has decreased by 2.72 dollars to 86.83 dollars per barrel.

Corona restrictions have been implemented in several areas around Beijing after new cases of Corona were reported in China.

In Hebei province, 4 million people have been instructed not to leave their homes unnecessarily for a week.

One crore of 30 lakh people in Tinajan city has been directed for immediate corona testing.