The sharp drop in oil prices following the discovery of a new type of corona virus in the UK

According to the Economic News Agency, the global oil price in today’s trading in Asian markets fell following the discovery of a new type of corona virus in the UK with a faster transmission rate.

Brent futures fell sharply 3.20 percent to $ 50.60 a barrel, and US light and crude oil fell more than 3 percent to $ 47.72 a barrel. US oil contracts for February delivery expired yesterday.

The discovery of a new type of corona virus with higher transmission rates, as well as severe travel restrictions in Europe, reduced demand for oil and, consequently, reduced prices. Investors have become more concerned with the discovery of this new type of virus and the slowdown in the recovery of the European economy, and have reduced their buying opportunities.

The new Corona virus is said to be 70 times faster than the previous type, and concerns about the spread of the virus have spread around the world. Countries such as France, Germany, Italy, the Netherlands, Ireland, Canada, Argentina and Chile have banned flights from the United Kingdom, and other countries are considering travel bans.

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