Industrial companies around the world are starting to get into trouble with coronavirus again. The spread of the delta variant disrupts supply chains. The problems are exacerbated by the recent floods in Germany and central China.
Tourism in the European Union experienced practically the worst times since its inception during a coronavirus pandemic. The number of nights in accommodation facilities fell by more than 60 percent from last April to March this year.
A barrel of Brent crude oil was trading at $66.5 on Tuesday, a nearly 1 percent discount from the previous day. Behind the price drop are fears of a rise in the coronavirus epidemic in India, which could weaken demand for black gold.
Air travel is slowly but surely beginning to revive in the United States. And with it, the demand for aviation fuel. The head of a U.S. oil processing company told Reuters.
The United States economy is said to be far from fully recovering from the effects of the coronavirus crisis. The central bank's monetary policy will therefore need to support it for some time to come. Federal Reserve Governor Jerome Powell said so on Tuesday.
Both a barrel of Brent and WTI oil are already trading for more than sixty dollars. The price of black gold has long since exceeded the pre-crisis level. There has been a temporary shortage of oil on the market due to the extremely cold weather in important mining areas.
