World oil prices fell today after China quarantined the whole of Shanghai, an important financial and production center, due to the corona virus.Brent oil prices fell by more than $ 4.5 a barrel due to concerns that the “lock” of Shanghai could lead to a drop in oil demand, according to the BBC.
Despite the fall, oil prices are still almost 80 percent higher than a year ago, and the war in Ukraine has contributed to a big jump.
The Shanghai Composite Index fell at the beginning of trading on the stock exchanges, but recovered most of the loss during the day.
Today’s quarantine of Shanghai is the biggest “lock” in China since the beginning of the corona virus pandemic more than two years ago.