The Oil Market Plummets to $ 40 After the US President was Infected With the Corona Virus

Oil prices retreated during trading today, Friday, amid the dollar’s rise against most major currencies and fluctuations in global markets after US President “Donald Trump” was infected with the Corona virus.

“Trump” had announced earlier Friday that he and his wife had been infected with the Coronavirus and were subject to quarantine, and at a later time he announced that the younger son, “Barron Trump”, had been infected with the coronavirus.

Today, the weekly report of Baker Hughes will be issued to know the state of drilling and exploration activities for oil and natural gas in the United States this week.

On the other hand, the dollar index rose (against a basket of major currencies) by 17:28 GMT by 0.1% to 93.86 points, recording the highest level at 94.03 points and the lowest level at 93.6 points.

In terms of trading, US Nymex crude futures for November delivery by 17:25 GMT decreased by 2.8% to 37.6 dollars a barrel, and recorded the highest price today at 38.6 dollars and the lowest price at 36.6 dollars.

Brent crude futures, the benchmark for November delivery, fell by 2.9% to 39.7 dollars a barrel, and recorded the highest price at 40.7 dollars and the lowest price at 38.7 dollars.

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