Oil prices generate steady picture amid rising concerns of disruption
On Monday, commodity handlers could finally keep their calm as oil prices were closed down on a steady note despite the Covid-19 scare. Bigger relief came from Libya and Kazakhstan as they saw some disruptions in the regional affairs which could have further led to inflaming the oil prices. The two issues combined, the way the prices startled at a steady note were a big relief to the agents. As per reports, the Brent crude oil fell 13 cents, or 0.2%, to $81.62 a barrel while the U.S. West Texas Intermediate (WTI) crude was down 17 cents, or 0.2%, at $78.73 a barrel. The two sides saw a rise of 50 cents when the session started earlier. Addressing the stability, Commerzbank analyst Carsten Fritsch said, “The tailwind lent to oil prices by supply concerns should therefore abate, which suggests that prices will fall this week.” Libya’s role is equally important here as the protest in Kazakhstan disrupted train lines essentially leading to affecting the production at the coun...