Oil prices fall by 4% due to tightening quarantine in Europe
Oil falls 4% on Monday morning. At 10:37 the Brent brand lost 3.95%, falling to $ 36.44, WTI fell 4.55% to $ 34.16. it was a reaction to the news about the introduction of new quarantine restrictions in European countries. The situation with the coronavirus in Europe continues to worsen, due to than in the countries of the region, the quarantine is being tightened. In the UK with 5 November, a strict regime is introduced, practically repeating the one that was introduced in the spring, as announced by the country's Prime Minister Boris Johnson. In Austria, restrictions begin to apply from the 3rd, in Germany they take effect today. At the same time, the German authorities decided confine ourselves to a relaxed quarantine option. Input probability restrictions are increasing in Italy, where a new daily allowance has been established record for the number of infections. In view of these events, players' fears about a decrease in demand for oil increases. In addition, the tightening of quarantine worsens even without the difficult economic situation in Europe, as noted by the leading CMC Markets market strategist Michael McCarthy in an interview with the agency Reuters.