The stock market day: oil price recovery is fragile

Oil prices have hardly moved in early trading. In the morning, a barrel (159 liters) of North Sea Brent cost $ 43.41. That was ten cents more than on Thursday. The price of a barrel of the American variety West Texas Intermediate (WTI) also rose slightly to $ 41.12. This week, oil prices had risen to their highest level since March.

You have recovered a good deal from your drastic slump in the corona crisis. However, the recovery remains fragile.

· The tense corona situation in the United States and other major economies and the political tensions between the United States and China are major risks for oil demand.

· On the supply side, some observers are worried that the increase in funding by large producers decided for August will not come too soon. The Opec oil cartel and allied countries such as Russia continue to limit their production. However, they want to loosen the cap somewhat from the coming month. The production limit was a reaction to the slump in demand in the corona crisis.