11/19/2021, 5:39 PM (Source: TeleTrader)
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Oil extends losses, goes down by more than 3%

The prices of oil continued to decline further on Friday as the number of newly registered cases of COVID-19 in Europe proceeded to rise rapidly, which led to Austria ordering a new nationwide lockdown.

Investors are now waiting for Baker Hughes's later update on oil rig count in the United States.

West Texas Intermediate (WTI) for settlements in January went down by 3.92% at 11:21 am ET to go for $75.29 per barrel. Meanwhile, Brent for the same month's deliveries fell by 3.49% at 11:23 to sell for $78.22 per barrel.

Baha Breaking the News (BBN) / JR