Market worries epidemic to restart due to fast resuming commercial activities, crude oil prices drop on May 11

According to the current global environment, there were more and more countries’ government decided to re-open their borders and also to resume commercial activities due to the easing of the COVID-19 epidemic.

However, some of the market participants worried that the epidemic would resume again because the re-open policy was coming too fast, some of the places even not controlled yet, and if that came true, the global economy would once again snipe.

Currently, some of the countries such as Germany, China, and South Korea, were facing the second-round spreading epidemic of COVID-19 now.

Based on that, the global crude oil prices faced drop on May 11th, came to around US$24.15/barrel in the West Texas Intermediate, and US$30.23/barrel in the Brent Crude.