Oil continues its losses amid renewed fears of Corona closures and a glut of supply

Baghdad-ALSHARQIYA  October  29 : Oil prices retreated on Thursday, continuing their losses after losing five percent on Wednesday.
Brent crude - the unit of measurement of Iraqi oil - on Thursday morning recorded a price of thirty-nine dollars a barrel, while American crude recorded thirty-seven dollars and thirty-one cents per barrel.
The new decline comes after many governments re-imposed restrictions to contain a second wave of infections with the Coronavirus, amid indications of a growing global supply glut.


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