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BREAKING
Netanyahu: If Lebanese Army takes steps to disarm Hezbollah, Israel will engage in reciprocal measures, including phased reduction of Israeli military presence in Lebanon
Al Mayadeen's correspondent: Photojournalist Houssam Al-Masri martyred, reporters Hatem Omar, Mohammad Ashraf Salameh injured in Israeli strike on Nasser Medical Complex.
Israeli media: Intense US efforts are being made to resolve differences, such as the issue of the Israeli presence on Mount Hermon and in southern Syria
Israeli media: The security agreement means amending the disengagement agreement, which will also address the Druze issue
Israeli media: Attempts to reach a security agreement between 'Israel' and Syria were among the topics discussed at the Paris meeting
Israeli media: Sheikh Muwaffaq Tarif rejected a US proposal to join the recent tripartite meeting between Tom Barrack, al-Shaibani, and Dermer
Saba News Agency: Two martyred, five injured in a preliminary toll of the Israeli aggression on the Yemeni Oil Company station on Al-Sitteen Street in Sanaa
Senior Yemeni military source to Al Mayadeen: We observed a state of confusion among the enemy's aircraft squadron after Yemeni air defenses intercepted the attack
Senior Yemeni military source to Al Mayadeen: The Yemeni air defense forces succeeded in neutralizing a squadron of enemy aircraft and prevented airstrikes on some governorates
Senior Yemeni military source to Al Mayadeen: Our air defenses and missile forces forced a formation of enemy aircraft to flee the airspace

Brent crude closes below 100$ as China forces COVID-19 lockdown

  • By Al Mayadeen Net
  • Source: Agencies
  • 15 Mar 2022 23:52
  • 2 Shares
2 Min Read

Oil demand has a huge say in its price.

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  • Oil Prices Rise
    Oil Prices Rise

On Tuesday, Brent oil futures finished under $100 a barrel, which is the first time it closes below the key benchmark level - $100 - since the second day of the Russian special military operation in Ukraine.

Read more: US oil reaches all-time high amid sanctions on Russia

The futures for delivery in May ended at $99.91 a barrel, a 6.5% decrease. 

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West Texas Intermediate, a US benchmark for crude, dropped 6.4% to $96.44 per barrel. 

China has recently taken the decision to place tens of millions of people under lockdown restrictions as COVID-19 cases increased significantly, which raises worries about oil demands taking a hit. 

Louise Dickson, a Rystad Energy analyst, said China's severe restrictions can put 500,000 barrels per day at risk. 

"China oil demand risk is real," Dickson said, explaining that a strengthening dollar will pressure prices of oil since it's purchased in USD.

Read more: China's tools to help Russia's economy

On Wednesday, the Federal Reserve is expected to start increasing the interest rate which would push the dollar higher.

With ongoing uncertainty due to the situation in Ukraine, Rystad warns that this drop may not last too long, as West-led sanctions on Russian energy affect the global market. 

  • COVID-19 pandemic
  • COVID-19
  • Covid lockdown
  • China
  • Brent crude oil
  • west texas intermediate
  • Oil prices
Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

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Tom Artiom Alexandrovich, executive director of the defense division of the Israeli National Cyber Directorate, undated (Social media)

Israeli-born US prosecutor drops Israeli officer child sex crime

  • Politics
  • 19 Aug 2025
Displaced Palestinians walk through a makeshift camp along the beach in Gaza City, Sunday, Aug. 10, 2025 (AP)

Hamas, other factions accept Egypt-Qatar ceasefire proposal: Exclusive

  • Politics
  • 18 Aug 2025
Israeli soldiers stand on the top of armoured vehicles parked on an area near the Israeli-Gaza border, as seen from southern Israel, Wednesday, Aug. 20, 2025 (AP)

Palestinian fighters target Israeli soldiers, vehicles in Gaza

  • Politics
  • 21 Aug 2025
Almost instantly after the Helsinki Accords were signed, organisations sprouted to document purported violations, whose findings were fed to overseas embassies for international amplification. (Al Mayadeen English; Illustrated by Zeinab el-Hajj)

How ‘Human Rights’ became a Western weapon

  • Opinion
  • 23 Aug 2025

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