Arab Steel Summit
Arab Steel Summit
steel Oribis
steel Oribis
steel Oribis

Oil drops 11% due to the new Covid-19 strain

Oil prices recorded at the end of trading today, following the announcement of the new African mutation of Covid-19, as Brent crude lost 11%, recording $72.9 per barrel, and US crude lost more than 13% to trade below $69 per barrel, and this is the biggest loss for the oil markets in the last two months.

Fears were renewed of the decline in demand on the oil markets, following the discovery of the new, most dangerous Corona mutant of the Corona virus, and renewed fears about closures and travel suspensions, to close the markets with the largest weekly loss.

This comes days before the OPEC meeting next December, and amid an American tendency to abandon part of the strategic stockpile to calm markets that witnessed unprecedented rises amid a crazy rise in demand for oil, as its price exceeded the $85 barrier per barrel.

The decline in oil came as part of a wave of collapses in global stock exchanges, as the US Dow Jones index plunged more than 900 points amid fears of the development of virus infections and its impact on global economic growth.



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Arab Iron and Steel Union

لوريم ايبسوم هو نموذج افتراضي يوضع في التصاميم لتعرض على العميل ليتصور طريقه وضع النصوص بالتصاميم سواء كانت تصاميم مطبوعه لوريم ايبسوم ليتصور طريقه لوريم ايبسوم.

About AISU

Arab Iron and Steel Union was established in Algeria in 1972 as the first Arab Union of the Arab countries to be founded under the Council of Economic Unity umbrella in the League of Arab States.

It is the first Arab organization to specialize in the iron and steel field, and its tasks fall within making plans aimed mainly at developing and growing the iron and steel industry in the Arab world.

Arab Iron and Steel Union comprises a wide range of multi-activity companies related to the iron and steel industry from the Arab countries.


92 Members

28 Board of Directors

17 Country

300.000 Employees

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General Secretariat
Tel +21323304221 Fax +21323304254
Mail: relex@solbarab.org

Cairo Regional Office
Tel +20233356219 Fax +20233374790
Mail: aisucairo@solbarab.org