Oil prices declined during trading today, Tuesday, giving up the gains made earlier today, amid the dollar's rise against most major currencies, and ahead of the release of US stockpile data.
There is concern among the markets due to the high number of Coronavirus infections, the highest level of 140 million cases, while more than 3 million people around the world have died so far of the disease.
Later today, the American Petroleum Institute is expected to announce preliminary unofficial data on crude stocks in the United States, while the Energy Information Administration will release its official data tomorrow.
On the other hand, the dollar index rose (against a basket of major currencies) by 17:11 GMT by 0.1% to 91.2 points, and recorded the highest level at 91.2 points and the lowest level at 90.8 points.
In terms of trading, US Nymex crude futures for May delivery by 17:11 GMT fell 1.5% to $ 62.4 a barrel, and recorded the highest price at $ 64.2 and the lowest price at $ 61.5.
Brent crude futures for June delivery fell 0.9% to 66.4 dollars a barrel, and crude recorded the highest price at $ 68.08 and the lowest price at $ 65.5.
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