Fall of Oil Prices Continues

29 Sep Fall of Oil Prices Continues

Oil prices fell on Tuesday as demand concerns driven by COVID-19 outweighed hopes that U.S. lawmakers and the White House were nearing an agreement on a new stimulus package to revive the world’s biggest economy.
Brent crude futures also fell 17 cents, or 0.4%, to $42.26 a barrel at 0120 GMT, after rising 1% on Monday.

Reuters reports AxiCorp market strategist Stephen Innes as saying, “If it happens, the U.S. stimulus checks will go a long way to shoring up U.S. oil demand at a most critical juncture and could move oil prices back into a pre-September frame of mind,”