Oil falls as coronavirus restrictions remain in place in China

World oil prices fell due to the ongoing coronavirus restrictions in China, Report informs.

The price of January futures for Brent crude fell by 1.02% to $86.73 per barrel, and January futures for WTI decreased by 0.86% to $79.42.

Markets are paying attention to the worsening situation with coronavirus in China and the subsequent coronavirus restrictions that negatively affect the Chinese economy and oil demand. Over the weekend, China saw the first coronavirus-related deaths in almost six months.