Crude prices are recording declines of more than 4% in the middle of the trading session of the opening session of the week today, Monday, the ninth of August (August), as Brent crude is trading below the levels of 70 dollars for the first time since July at levels of 67.75 dollars per ounce, down by about 4.17%, while the American NYMEX crude loses about 4.26% It is trading at levels of $65.37 per ounce, coinciding with the rising market concerns about the rapid spread and spread of the new strain of the Corona virus, known as Delta, in the second largest consumer of crude in the world and some Asian countries.

China, the second largest economy in the world and the second largest consumer of crude in the world, announced that 125 confirmed cases of the Corona virus were infected yesterday evening, Sunday, after 96 were infected the previous day, raising fears about imposing new restrictions that may cause a decline in global demand levels for oil, as China began to impose some Restrictions that include flight cancellations and some restrictions on public transport and taxi services in the most affected areas.

Meanwhile, data released this morning from China showed a recovery in China’s imports of crude oil in July from the lowest level in six months at 41.24 million tons, equivalent to 9.71 million barrels per day.