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Brent oil bounces 2% and recovers $ 40 per barrel

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He Brent oil bounces 2% and recovers $ 40 per barrel after the sharp falls of last week due to doubts about world demand. The reference crude in Europe accumulates a 34% drop so far this year.

The threat of more restrictive measures in many countries due to second wave of coronavirus It makes experts fear a lower global demand for crude oil in the coming months.

In Europe, the outbreaks of coronavirus have slowed economic activity in the euro zone until almost stagnation in the month of September, since they have impacted the activity of the services sector.

Germany and to a lesser extent Italy are the only large economies that managed to expand their private activity, while France and Spain posted their worst data in four months, as reflected by the PMI index.

"Since the euro zone economy almost stalled in September, the chances of a further slowdown in the fourth quarter have clearly increased"said Chris Williamson, chief economist at IHS Markit.

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